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Central Europe
July 7, 2017 www.intellinews.com I Page 15
GetBack will use the proceeds to finance growth, especially via acquisitions of debt portfolios in Poland and abroad, in the nine to 12 months after the IPO. The company might also consider taking over other debt collectors. Should no takeover opportunities arise, GetBack will use the proceeds to increase its working capital and finance company operations.
On June 19, Play Communications, the owner of the second biggest Polish mobile operator P4, announced its plans for an IPO on the Warsaw Stock Exchange.
Play will offer a “portion of the existing shares” under the float. The company did not specify the timing of the offering. Play hinted earlier this year, however, that it was mulling an IPO by the end
of 2017, after its owners – billionaires Icelander
Thor Bjorgolfsson and Greek Panos Germanos – unsuccessfully sought an exit route in October.
It is planned that the float will consist of an offering to retail investors, authorised employees and institutional investors in Poland, as well as
an international offering, the company also said. Proceeds from the IPO will fund the redemption of 2022 payment-in-kind notes of the parent company and a distribution to its shareholders.
“Play benefits from consistently strong performance of the Polish economy and the increasing sophistication of our customer base’s use of data, so we believe we can offer investors an unrivalled combination of growth and returns in our sector,” the company’s CEO Jorgen Bang- Jensen said in a statement.
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