News Parkiet

Construction industry

Mostostal Warszawa in trouble

Towarowa Park, a subsidiary of Mostostal Warszawa construction holding, has not yet completed the sale of its main asset, an 18-thousand squared meters lot with office and business facilities located in Warsaw city center. The transaction is expected to improve this year?s financial figures of Mostostal Warszawa, which posted a net loss of 18 million zloty in third quarter as its revenue dropped by one third compared with the same period last year. Instead, Mostostal Warszawa issued a regulatory filing which said it had lent another 4 million zloty to Towarowa Park. At the end of June Towarowa Park owed its mother company over 12 million zloty.

Footwear

CCC sets preliminary IPO range at 9-11 zloty

CCC shoe producer and retailer has published preliminary IPO price range at 9-11 zloty. ?We have talked to a number of investors and we consider the price range attractive," management board member Mariusz Gnych said during a chat at PARKIET web site on Friday. The firm wants to raise 70.4 million zloty, selling 6.4 million new shares, while the existing shareholders are offering shares worth another 17.6 mln zloty. Subscription period will last from November 22 till November 25. The company expects its shares to start trading in Warsaw early December. Proceeds from the IPO will be used to expand CCC?s chain of shoe stores, as well as to increase acting capital.