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Polish delivery firm Siodemka plans debut on Warsaw bourse

TAG'S: Services (other)

Polish delivery company Siodemka plans a flotation on the Warsaw Stock Exchange, two sources familiar with the matter said on Wednesday, joining a wave of stock market listings seen in recent weeks.

Siodemka, owned by private equity fund Abris Capital Partners, is one of Polands biggest delivery firms, competing with such global players as DHL, UPS and Fedex as well as locally based Pocztex.

Last year the company reported a net profit of 15.5 million zlotys ($5 million) on sales of 305 million.

Siodemka declined to comment while no-one at Abris was immediately available.

The Warsaw bourse is seeing a stream of new listings, with 18 companies having already debuted in central Europe`s largest equity market this year.

Goods carrier PKP Cargo has been the biggest initial public offering (IPO) so far in 2013, but the planned flotation of state-owned utility Energa will go top as the largest Warsaw IPO in over two years.

Source: Reuters


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