06 June 2006,
Price of Eurofilms Shares: PLN 4
- Eurofilms S.A. has set the price of Offered Shares at a level of PLN 4.
- The offering will cover the total of 8,053,306 shares (4,026,653 Series D Shares, offered by the Company and 4,026,653 Series B1 and C Shares, offered by the existing shareholders). The Institutional Tranche will include 6,500,000 shares, and the Individual Tranche ? 1,553,306 shares.
- During the Bookbuilding process the investors have placed subscription declarations for almost 37 mn of shares. This means that they declare the intention to buy almost six times more shares than allocated to the Institutional Tranche.
- The issue of new shares of Eurofilms S.A. is aimed primarily at co-financing capital investments that can significantly increase production capacity of the Company: by 50% as regards stretch film and by 100% as regards PVC thermoshrink film. The increase in production capacity will enable further dynamic development of the Company's export sales and strengthening its position on the Polish market, which will translate into an increase in the Company's sales by about 50%, starting from 2007.
- Financial forecasts of Eurofilms for 2006 assume sales revenue at a level of PLN 133.4 mn and net profit of PLN 5.5 mn. For 2007, the Company forecasts revenues of PLN 154.3 mn and net profit of PLN 8.1 mn.
SUBSCRIPTION FOR SHARES
Subscriptions in the Individual Tranche and the Institutional Tranche will be accepted between May 31 and June 2, 2006 at Customer Service Points of Millennium Brokerage House.
ALLOCATION OF SHARES
The allocation of shares in both tranches will be carried out no later than within 7 days from the subscription day, i.e. June 9, 2006. During this process, the Company may decide to reallocate shares between the Individual and the Institutional Tranches. In such a case, only those shares that have not been covered and paid in a given tranche will be reallocated.
PUBLIC OFFERING SCHEDULE
- May 31, 2006Commencement of subscriptions in Institutional and Individual Tranches
- June 2, 2006End of subscriptions in Institutional and Individual Tranches
- from June 9, 2006Closing of the Public Offering and allocation of Offered Shares
- June 2006First quotations on the Warsaw Stock Exchange
- We are satisfied with the results of Bookbuilding. We are happy that, despite fluctuations of the stock indices, the institutional investors, whom we met, have appreciated stable grounds for Eurofilms operations and the development prospects of the Company. We do hope that these elements will also be valued by individual investors, who may subscribe for the shares of our Company starting from tomorrow, Grzegorz Kędzierski, President of the Board of Eurofilms SA stated.