WARSAW, June 12 The main shareholder in Poland's
Alumetal has launched an initial public offering (IPO) of the
aluminium parts maker on the Warsaw bourse, planning to
spin off its whole 56-percent stake, it said on Thursday.
The news confirmed an earlier Reuters report, in which
sources said the offer is estimated to be worth between 200
million and 500 million zlotys ($66-165 million).
The shareholder, Poland-based private equity fund Abris,
said it aimed for Alumetal to make its stock market debut at the
end of the second quarter or beginning of the third quarter.
UniCredit is the offer's lead manager, aided by brokerages
at PKO BP and Banco Espirito Santo.
Alumetal, which has an annual capacity of 165,000 tonnes,
produces components mostly for the automobile industry. It sells
almost half of its wares abroad, with its clients including
The firm's revenue rose by about a fifth in 2013 to 1.02
billion zlotys, compared with the year before, while earnings
before interest tax, depreciation and amortisation (EBITDA) and
net profit both rose slightly, to 54 million and 36 million
Its sales rose by more than a quarter in the first quarter
of this year to 311.4 million zlotys. EBITDA more than doubled
to 23 million zlotys, while net profit almost tripled to 17
million zlotys, thanks to a pick-up in European car production
Alumetal's direct Polish rival Grupa Kety has a
market capitalisation 2 billion zlotys.
($1 = 3.0287 Polish Zlotys)
(Reporting by Adrian Krajewski; Editing by Pravin Char)