Polish and foreign investors have acquired 508,000 shares (100% of the securities available for purchase, representing …
Polish and foreign funds have bought all shares of Mercator Medical offered as part of the ABB process
Polish and foreign investors have acquired 508,000 shares (100% of the securities available for purchase, representing almost 4.8% of the share capital) at PLN 400 as part of the accelerated book building process (ABB) currently under way. The selling party was indirectly President Wiesław Żyznowski and Urszula Żyznowska - Chair of the Supervisory Board and the President’s wife in private life. The sellers committed themselves not to dispose of the shares held until June next year (lock-up for six months).
“I am happy to see such great demand on the part of Polish and foreign funds; as a result, we closed the transaction in just one day. So we welcome the new institutional shareholders, which in turn increases the number of free-float shares and increases the company’s chances to further advance both in national and global indexes”, says Wiesław Żyznowski, PhD, President of the Management Board, Mercator Medical S.A.
“This is my first sale of Mercator shares in its entire history. At the same time, I would like to emphasise once again that my controlling interest is not for sale because the Mercator Medical Group is only at the beginning of its development path, it has very good prospects and strong foundations”, adds President Żyznowski.
After the settlement of today’s transactions with the funds that have purchased the shares of Mercator Medical, President Wiesław Żyznowski will control directly and indirectly 6.5 million shares, which account for over 61% of the share capital and secure over 72% in the total number of votes at the General Assembly. The ABB process manager was Ipopema Securities.
In the third quarter of the current year, the Mercator Medical Group recorded revenues which are four times higher than a year ago (PLN 604.0 million). The Group also earned EBITDA which is 46 times higher (PLN 390.9 million) and net result which is 500 times higher (PLN 355.8 million). Net cash increased by more than half a billion PLN compared to last year.
In June of this year Mercator Medical advanced to the mWIG40, and since October the company’s securities futures have been traded on the WSE. Since December, the company has also been included in the MSCI Small Caps index. Stock analysts indicate Mercator Medical as a candidate for the Polish WIG20 index in the perspective of subsequent index composition revisions. At the same time, since the beginning of the pandemic, this Krakow-based company has been actively involved in the fight against COVID-19 by donating personal protective equipment from its own portfolio to numerous medical and care facilities. To date, Mercator Medical has already donated 1.6 million examination gloves and 50,000 face masks to 55 different institutions, mainly hospitals, nursing homes, hospices and foundations – including the Foundation for the Development of Nursing (Fundacja Rozwoju Pielęgniarstwa), the Foundation of the Sisters of Saint Dominic (Fundacja Sióstr św. Dominika), as well as to the Police Headquarters, the Material Reserves Agency and the Ministry of Health.