Westa raises 47.6 million USD at IPO in Warsaw
2011-06-14 14:32:58
Company Westa ISIC, one of the largest battery manufacturers in Europe, has held the initial public offering (IPO) of 11.033,333 million shares on the Warsaw Stock Exchange (WSE), raising 129.6 million zlotys (47.624 million dollars) in gross. It is said in the company's statement published on the WSE website.
Institutional investors were allocated 10.483,333 million shares, private investors 550 thousand shares.
According to the statement, the proceeds will be used to finance the purchase of machinery and equipment, prepare the infrastructure for launching a new production line, as well as to optimize capital structure and improve the financial situation by paying off the loan portfolio.