Dutch Ronsom Hits WSE

The listing will allow the Warszawa-based company to build more housing complexes elsewhere in Poland.

Ronson will offer 40 million new shares on the exchange. It will also list 20 million existing shares.

The price for non-institutional investors will be about 7 zloty per share, making Ronson’s debut one of the largest on the exchange this year.

Ronson hopes to obtain about 280 million zloty from the listing, all of which it says will go into new projects in Poland.

Ronson’s first project in Warsaw was Sunny Square in 2000. It has completed four projects since then. Together, the five projects created 700 apartment units.

Proof of the company’s desire to expand is the fact that it has bought land for projects in Wroclaw, Poznan and Szczecin. Ronson’s chief executive officer, Dror Kerem, told the Katowice-based daily Dziennik Zachodni that Poland is a good market because of its robust economic growth and strong demand for apartments. Warsaw-based REAS Consulting says housing demand is soaring in five Polish cities it studied ? Warsaw, Krakow, Wroclaw, Poznan and Trojmiasto. That trend is why stock market experts are predicting a lot of interest in Ronson’s shares on the Warsaw exchange.

An American company and two companies in Israel hold sizable chunks of Ronson’s stock. They are General Electric, U.Dori and Israel Theaters.

The theater company has a Polish subsidiary, Cinema City, which runs movie theaters in 14 Polish cities, including Warsaw, Katowice, Torun, Gliwice and Poznan.

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