Eurofaktor, Poland's fifth-largest factoring company, will debut on the Warsaw Stock Exchange in December 2004 after completing institutional subscriptions during the company investment road show, which is set to start in the second half of November, Eurofaktor vice president Miroslaw Nowocki said.
"We will start our road show after November 15," he said "And we hope to have our shares trading on the exchange in December."
Eurofaktor intends to raise PLN 50m via in an initial public offering (IPO) in an effort to push it into the top three of Poland's factoring companies within three years.
Factoring companies act as business lending middlemen by taking over accounts receivable and providing collection services. The Polish factoring market is growing by 20% per year and is expected to be worth an estimated PLN 18bn in turnover in 2004.
