Ukrainian military strike for first time disrupts operations of Western oil majors
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Book and media retailer Empik plans to launch an initial public offering on the Warsaw Stock Exchange next year, Bloomberg reported on October 20, citing people familiar with the matter.
The company is working with advisers including Morgan Stanley and brokerage Trigon DM on the potential listing, the report said. One source said the offering could raise about €200mn, while another noted that the final size has yet to be determined.
Penta Investments, which holds a 49% stake in Empik, acquired the company in 2012 and carried out a restructuring that involved delisting the retailer’s asset-holding entity. Three years ago, Penta sold a majority stake to Empik’s chief executive, Ewa Szmidt.
Bloomberg said Penta is now considering further reducing its shareholding, though details of the offering may still change and it remains unclear whether new shares will be issued.
Penta, Trigon, and Morgan Stanley declined to comment on the potential IPO, Bloomberg said.
Earlier this month, Polish children’s goods retailer Smyk announced plans to launch a Warsaw Stock Exchange IPO worth an estimated PLN150mn (€35.26mn).
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