January 20, 2014 / 3:16 PM / 4 years ago

UPDATE 1-Poland's Alumetal to launch IPO worth up to $162 mln -sources

(Adds background)

By Adrian Krajewski and Pawel Bernat

WARSAW, Jan 20 (Reuters) - The main shareholder in Poland’s Alumetal plans to list shares in the aluminium parts maker in Warsaw via an initial public offering estimated worth between 200-500 million zlotys $65-$162 million), sources with knowledge of the offer told Reuters.

The manufacturer makes components mostly for the automobile industry, and its clients include Germany’s Volkswagen. It generated 202 million euros ($274 million) in revenue in 2012, of which 45 percent came from foreign sales.

The company, located in the southern Polish city of Kety, is 55.6-percent controlled by local private equity fund Abris. Both Alumetal and Abris refused to comment.

“The work to put together a prospectus has launched. It should take another six months or so.”

“The company is in no need of new capital so it should be about its main shareholder selling its stake,” a person with knowledge of the process said.

A second person with knowledge of the plans said the offer would take place this year.

The firm’s direct Polish rival Grupa Kety is valued at 2 billion zlotys ($651 million). ($1 = 3.0709 Polish zlotys) ($1 = 0.7376 euros) ($1 = 3.0709 Polish zlotys) (Editing by Keiron Henderson)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below