Vobis to go public by end of year

2007-06-01

Vobis, the owner of a computer store chain, is preparing for its IPO. The company expects that the issue prospectus will be submitted to the Financial Supervisory Authority (KNF) during the summer and that the stock market debut will take place by the end of the year.
The aim of the share issue is to raise funds for further development and investments. The company wants to expand its retail network and to look for new distribution channels. At the moment, Vobis has a chain of 160 stores, of which it owns 76, the rest being run by the company’s partners. By 2009 the firm intends to open 15 of its own shops and 25 operating on a partnership basis per annum. It is also going to develop online sales.
Plans for 2008 include foreign expansion: Vobis is analysing the Czech and Slovak markets. The company would acquire local firms in order to establish a presence there.

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