Torpol rail builder hopes for PLN 52m from IPO
June 17, 2014
Rail infrastructure builder Torpol intends to take roughly PLN 52 million from sale of up to 7.4 million new shares as its lead shareholder, troubled construction group Polimex-Mostostal, sells up to 15.6 million shares, an issue prospectus shows.
Torpol will split the proceeds between PLN 25 million working capital for current projects in Poland, then PLN 15 million for equipment and PLN 10 million for working capital in Norway, the firm said.
Some 10% of the total offer will be directed towards retail investors, the firm said.