Mo-Bruk joins NewConnect

2010-07-05

The Mo-Bruk group, whose business includes construction of concrete-paved roads, made its debut on the NewConnect market. The company issued 365,000 shares, most of which were acquired by domestic financial institutions.
The shares offered for sale represented 15.2% of the Group's share capital. Proceeds from the issue in the amount of PLN 26m (€6.3m) will be used to launch two production plants in Opolszczyzna region and Upper Silesia, part of the funds will be also utilised to extend a plant in Karsy in the Swietokrzyskie voivodship. The plants in Opolskie and Swietokrzyskie will manufacture alternative fuels from segregated communal waste, while the Upper Silesian plant will process non-organic waste to produce cement granulate used in the construction of roads and for other purposes. In addition to the issue proceeds, the company will also use EU subsidies of PLN 100m (€24.3m).
Mo-Bruk also plans to have its stock listed on the Warsaw Stock Exchange in 2011; the company's management considers acquisition of a company from the road construction industry. Mo-Bruk is eying targets with growth potential at the moment.

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