Monday, September 29, 2008

Sweden's Arctic Paper plans IPO on Warsaw bourse in Q1/2009.

Source: IntelliNews - Poland Today

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Sweden's Arctic Paper plans IPO on Warsaw bourse in Q1/2009. The Swedish paper manufacturer Arctic Paper plans to debut on the Warsaw Stock Exchange (WSE) in Q1/2009. Arctic's CEO Olle Grundberg explains that the firm chose the WSE as it was a dynamic market, while Poland was well-located from the point of view of Arctic 's Eastward expansion plans, as reported by the daily Rzeczpospolita . Also, one of the group's paper mills is located in Poland - Arctic Paper Kostrzyn. Its other facilities are in Sweden and Germany . The proceeds from the IPO proceeds are to help the company grow internationally. Among others, they will be used to finalise the acquisition of the fine paper mill Grycksbo Paper in the Swedish region of Dalecarlia. According to Rzeczpospolita , Arctic Paper posted net profit of PLN 58mn (EUR 17mn) in 2007 on sales of PLN 10.4bn (EUR 3.1bn). tom

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Sweden's Arctic Paper plans IPO on Warsaw bourse in Q1/2009.

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