Intersport wants to obtain up to PLN 80 million from the issue of shares or from the investor

As part of the update of the strategic options review, Intersport Polska decided to raise up to PLN 80 million in additional funds. To this end, it is considering finding an investor or issuing shares, the company said.

“Taking into account the further development of the company and the achievement of its long-term goals, the management considered options to attract investors or a strategic or financial investor. In particular, depending on the current market conditions and possible forms of cooperation, the issuance of new shares by the company is considered. Thus, the intention of the management board is to find a solution that will enable the company to obtain additional funds in the amount of up to PLN 80 million, ”reads the release.

In order to implement the selected option, the required legal and financial analyzes will be carried out, including those related to the preparation of the optimal structure of the new issue and possible talks with investors.

The management board's proposal to continue the review of strategic options received a positive opinion from the supervisory board.

"As at the date of publication of this report, no decisions were made regarding the selection of a specific option with regard to the detailed parameters of the share issue" - the reservation was made.

The core business of Intersport Polska is retail sale of branded sports equipment in specialist large-area stores located in selected shopping centers in large cities throughout Poland. The company has been listed on the WSE since 2006.

Source