29 December was the first day of trading TXM S.A.’s subscription rights on the Main Market of the Warsaw Stock Exchange. The issue price at which investors subscribed for the company’s shares in the public offering was PLN 5 per share. At first listing the price of TXM’s subscription rights rose by 14.6% to PLN 5.73.
In the initial public offering of shares, the entire new issue of 4,000,000 series E shares was allocated to the investors. 400 thousand shares, or 10% of the entire issue, were allocated to retail investors. The average rate of reduction in the Individual Investors tranche was 49.33%. Institutional Investors subscribed for 3.6 million shares, i.e. 90% of the entire issue.
The gross amount of the TXM S.A.’s offering was PLN 20 million. Proceeds from the issue will be used for the development of a chain of brick-and-mortar stores in Poland, for international expansion, dynamic development of the e-commerce channel and adaptation of the logistic support to the expanding sales chain.