Graal introducing its subsidiaries on the stock market

2010-08-30

Graal, the fish processing group, will introduce its subsidiary companies on the stock market, as Parkiet reported. Recently, Koral, one of the subsidiaries, has been transformed into a joint-stock company, the debut of which is scheduled for 2011. The group’s management underlined, however, that Koral will go public on the condition that its valuation will total to at least PLN 100m (€25m). Graal intends to issue a 20% share of Koral and keep a controlling block of shares in the company. The value of the offer is estimated at several dozen million Polish zloty. Money obtained from the issue will be spent for the acquisition of a producer and distributor of smoked fish.
In 2011, the group will work on introducing Superfish, another subsidiary, on the stock market. The latter firm was acquired by Graal in 2007 from Orkla, a Norwegian group. Before debuting, Superfish will merge with Gaster and Kordex in order to establish a stronger and larger firm. Superfish is to go public in 2012.