On 1 April, Poland's leading packer and distributor of organic food, Bio Planet debuted on NewConnect, an alternative stock exchange allowing smaller companies to float shares run by the Warsaw Stock Exchange. It is estimated that in 2 to 3 years it will gain access to the main Warsaw Stock Exchange.
"The issue of shares will provide financial resources to be invested in NewConnect's new logistics centre, which will open in the third quarter and will play an important role in our growth. We could gain access to the main stock exchange market in 2 to 3 years and that would involve a new investment programme, for example, the construction of a new packaging plant, which would help improve the company's profitability. However, any decisions on further investments won't be made until the end of the year"- said Sylwester Strużyna, president of Bio Planet.
The implementation of the new logistics centre will give the company 7.5 thousand m2 of warehouse space. The project will cost approximately 17 million zł (4.22 million Euro).
In the words of the President of Bio Planet, other priorities are to strengthen the position of the company and its brands in the segment of organic foods and boost its sales of fresh produce (vegetables, fruits, dairy products).
Source: finanse.wp.pl
