Slovak Grafobal to list shares in Poland

January 29, 2014

Slovak energy producer Grafobal Energy Group (GGE) plans to raise up to 190 million zlotys ($62 million) for new projects in eastern Europe by listing its shares on the Warsaw bourse, the group said on January 28, Reuters has reported.

Grafobal, which booked 118 million euros ($161.4 million) in sales and a 6 million euro net profit after the first nine months of 2013, plans to offer new investors 5 million shares, or a 33-percent stake, through the initial public offer (IPO).

Investors will be able to sign up for the issue between Feb 11-14, with the debut itself planned for March 21.

GGE specialises in combined heat and power production, operating facilities fueled by natural gas and biomass. It trades gas and electricity on its home Slovakian market, as well as in the Czech Republic, Hungary, Serbia and Poland.

Copyright: Reuters, 2014