July proved a profitable and eventful month for construction firm ABM Solid. The firm became the Warsaw Stock Exchange's 39th debutant of the year on July 24 and, over the course of the month, signed contracts worth a total of zł.36 million.
In its IPO, ABM Solid issued 1.75 million H-series shares, roughly three quarters of which were offered to institutional investors, with the remaining quarter earmarked for individual investors. The issue price was set at zł.29.50 and the stock finished the day at zł.34.50, marking an opening-day increase in value of around 20 percent.
The company also signed a number of contracts in July. Early in the month, ABM signed two contracts with the Tarnów Social Housing Cooperative for the construction of two multi-family apartment buildings. The projects, worth zł.15.5 and zł.5.7 million, must be completed by May 31, 2009, and November 30, 2008, respectively.
ABM also inked a contract with Jerónimo Martins Dystribucja, the owner of the Biedronka retail chain, for the construction of a logistics center in Kostrzyn. The contract is valued at zł.10.8 million and the building will be delivered by December 20, 2007. Additionally, ABM will build a regional recreation-rehabilitation center for Aquapark Polkowice in Lower Silesia worth around zł.3.5 million. Finally, the firm has signed a contract worth zł.780,000 for the construction of a warehouse for Trend Glass in Radom.
"I think these contracts are good news for the market investors who have joined us. We don't intend to stop there either. We are continually taking part in construction tenders in quite varied sectors of the industry and in many places across Poland," said Marek Pawlik, the president of ABM Solid.
