Breaking News
Ad-Free Version. Upgrade your experience. Save up to 40% More details

Polish retail chain Dino plans to debut on Warsaw bourse in 2017

Stock MarketsDec 05, 2016 02:40PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
Polish retail chain Dino plans to debut on Warsaw bourse in 2017

WARSAW (Reuters) - Polish retail chain Dino will debut next year in possibly the biggest share offer in 2017 on the Warsaw bourse, Dino's CEO told Reuters.

Private equity fund Enterprise Investors plans to sell a stake of up to 49 percent in the business.

This could boost the Warsaw Stock Exchange (WA:GPW), which has lost investors and attracted fewer new entrants as the government has pursued policies that have been criticized by the European Commission and some credit rating agencies.

Unlike the big state-run blue chips, which heavily weigh on the bourse's major index, Dino's business has thrived.

"We plan to debut on the Warsaw bourse in the first half of 2017," said Szymon Piduch, who has been Dino's chief executive officer for 14 years.

In an interview on Friday, Piduch told Reuters: "This is a good moment (for an IPO). The scale of the company's development is the argument."

The offer will include only existing shares owned by Enterprise Investors, which bought its stake in Dino in 2010 for 200 million zlotys. The company's founder and owner of the remaining 51 percent, Tomasz Biernacki, will keep his stake.

"Our IPO will most likely be the biggest in 2017 and also in the past few years. We want to address it to individual investors in Poland and institutional ones both in Poland an abroad," Piduch said.

He said Dino is taking advantage of the boost to Polish retail spending from the conservative government's child benefit payments.

Piduch played down any impact on the chain's operations from a planned tax on retailers and a possible ban on Sunday trade.

Dino has now 608 stores compared to 100 in 2010, mostly in western Poland. Its revenues rose by 23 percent in 2015 to 2.6 billion zlotys ($620 million) while EBITDA (earnings before interest, tax, depreciation and amortization) increased by 42 percent to 201 million zlotys.

Eighteen companies have debuted on the Warsaw bourse since the start of this year, the biggest for 245 million zlotys.

Last year the bourse attracted 30 debuts, including German wheel supplier Uniwheels whose IPO raised 504 million zlotys.

Concerns over government plans to cut dividends and claim more taxes from state-run firms have added to investor concerns raised by a 2013 pension system overhaul.

The exchange, which is state-run, is particularly vulnerable to government decisions because the state is a shareholder in more than half the 20 blue chips (WIG20) listed in Warsaw, mostly utilities and banks.

($1 = 4.1961 zlotys)

Polish retail chain Dino plans to debut on Warsaw bourse in 2017

Related Articles

GM extends EV Bolt production halt to mid-October
GM extends EV Bolt production halt to mid-October By Reuters - Sep 16, 2021

By David Shepardson WASHINGTON (Reuters) -General Motors Co said on Thursday it will extend a shutdown of a Michigan assembly plant to mid-October following a new recall of its...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
Sign up with Email