Bydgoszcz-based steel distributor Drozapol-Profil plans to delist from the Warsaw Stock Exchange by carrying out a compulsory buyout of shares from minority shareholders, Kallanish notes.
The firm’s revenue in the nine months through September 2023 halved on-year to PLN 46.3 million ($11.5m) and the firm sank to a net loss of PLN 5.7m versus a year-earlier profit of PLN 10.9m. Of its total shareholding, 36% is free floated.
The move follows fellow Polish distributor Konsorcjum Stali’s delisting from the stock exchange in 2020. Poland’s third-largest distributor Bowim remains listed on the stock exchange for the time being.
Adam Smith Poland