POLAND: Dr Witt looks to launch IPO
Dr Witt, the Polish juice and soft drinks maker, is looking to launch an IPO within the next 12 months. The offering on the Warsaw Stock Exchange is expected either in the fourth quarter of this year or early in 2005.
Dr Witt plans to raise between PZ70m (US$17.6m) and PZ80m in the planned IPO. The funds will be used for further investments and purchases within the company's sector.
The company's CEO Jan Rynkiewicz said yesterday that the company is in the process of negotiating the acquisition of another company. The transaction should be completed by the end of next month, he said.
Dr Witt currently holds a 3% share in its domestic market for fruit and vegetable juices. The firm exports its products mainly to the US, Mongolia and Scandinavia, and is looking to expand into the European Union going forward.
Sectors: Soft drinks
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