15 June 2004 07:44
Bicycle Maker Kross to Debut on Warsaw Bourse This Year
Kross, Poland's largest producer of bicycles, may debut on the Warsaw bourse as early as this autumn. The
company wants to obtain ZL50m from the share issue, which it will use for foreign investments (ZL20m) and for raising
its capital by 25-30 percent. Kross originally thought of debuting on the stock exchange in 2005. "We have set out
our plans for investments. Consequently, we were able to make the decision to go public faster," said Zbigniew
Szablowski, the company's financial director. Kross may file its prospectus at the Securities and Exchange
Commission (GPW) in September. The company is already undergoing a transformation into a joint stock company. For the
money obtained from the public offering, Kross wants to increase bicycle sales in Western Europe, where it may open
warehouses and start its own distribution. The company also wants to enter the Russian market.
[Polish News Bulletin] |
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