Polish delivery company Siodemka plans a flotation on the Warsaw Stock Exchange, sources told Reuters on Wednesday. According to the report, Siodemka is one of Poland's biggest delivery firms. It competes against global players including DHL, UPS and Fedex as well as locally based Pocztex.
Siodemka is owned by Polish private equity firm Abris Capital Partners. Abris Capital is an investment firm that specializes in middle market buyouts and growth capital investments. It invests in Central and Eastern Europe region with a focus on Poland, Bulgaria, Romania and Ukraine, based on a profile by InsideView. Siodemka reported a net profit of PLN15.5 million (USD5 million) on sales of 305 million last year, Reuters said.
The Warsaw bourse is seeing a stream of listings in recent weeks. 18 companies have already debuted on central Europe's largest equity market this year, the report said. Goods carrier PKP Cargo has been the biggest initial public offering so far in 2013. Meanwhile, the planned flotation of state-owned utility Energa will be dubbed as the largest Warsaw IPO in over two years, said Reuters.
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