Poland's Arlen plans IPO on Warsaw bourse
GDANSK, May 23 (Reuters) - Polish protective clothing manufacturer Arlen Group said on Friday it planned to carry out an initial public offering (IPO) and list its shares on the Warsaw Stock Exchange.
The IPO will consist of a sale of up to 35% of Arlen's existing shares to selected institutional and individual investors in Poland by its main shareholder A.T. Fundacja Rodzinna, controlled by Arlen CEO Andrzej Tabaczynski.
About 10% to 20% of the offered shares will be allocated to individual investors. No new shares will be issued in the offering. Arlen did not specify a timeline for the IPO.
In 2024, Arlen reported revenue of 461.4 million zlotys ($122.8 million), which was around 26% higher than in 2023.
Its normalized core earnings (EBITDA) rose 45% to 83.9 million zlotys last year, with normalized net profit rising by 44% to 60.5 million zlotys.
($1 = 3.7570 zlotys)
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