Polish construction group Polimex is to list its railway construction arm Torpol on the Warsaw stock exchange next month in a 161 million zloty ($53 million) initial public offering. Polimex plans to sell all its shares in Torpol, which it values at 109 million zlotys, and Torpol will sell new shares valued at 52 million. (Reuters)
The Polish Financial Supervision Authority (KNF) approved the prospectus Torpol SA according to initial public offering on the 13th of June.
“The entrance to the capital market is a crucial step in the history of the company. We will become even more credible to the authorities, the acquisition of resources for organic growth and will be easier for us to reach for the financing of the implementation of ongoing projects” said Tomasz Sweklej, CEO Torpol SA.
Torpol SA is has a diversified portfolio of contracts for the years 2014-2015, with a total value of over 2.2 billion, net (excluding consortium partners). In 2013, Torpol registred zł 416 million in revenues of and expect the amount to double this year.
The most important Torpol’s infrastructure projects in Poland are the construction of the multi-modal Łódź Fabryczna Station and the modernization of the Rail Baltica.