„The funds from the IPO will be spent on the opening of at least 24 new shops in Poland and 20 points of sale abroad, mainly in Germany,” Maciej Fedorowicz, Gino Rossi CEO said.
The company already runs a shop in Berlin with much success. „It turned out that once you find a good spot and come up with a good strategy, even such a difficult and competitive market as Germany can be conquered,” Fedorowicz added.
Currently, Gino Rossi runs 87 shops, of which 16 are located abroad, in cities such as Berlin, Prague, Tallinn and Riga.
In 2006, the shoemaker wants to triple its net profit to zł.6.5 million and increase its revenues by 20 percent to zł.112 million.
Katarzyna Dębek
The subscription for the shares of Gino Rossi, a leading Polish shoemaker, starts on June 12 with the issue price ranging from zł.10 to zł.13. The company will float three million of its C-series shares, of which 2.2 million will be sold to institutional investors, looking to collect some zł.30 million from the floor.
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