DP Poland PLC - franchisor in Poland for Domino's Pizza - Intends to raise GBP4.8 million through a placing and subscriptions.
Luxembourg-based investment firm M&M Holdings Sarl to subscribe for 31.9 million shares at 8.0 pence each, raising GBP2.6 million.
The remaining GBP2.2 million is to be raised through a placing and further direct subscriptions through the issue of no more that 27.6 million shares at the same issue price.
Singer Capital Markets will act as broker and bookrunner for the accelerated bookbuild.
Proceeds from the fundraising will go towards the company objective of becoming a market leader in Poland, which involves accelerating its store roll-out programme in Poland and Croatia, and capital expenditure including oven upgrades, e-bikes and e-commerce.
"I am delighted by the support shown by M&M Holdings and our existing shareholders in the future prospects of the company. The funds raised will enable us to accelerate expansion and work towards our goal of becoming a market leader in Poland. This will include executing our store roll out programme in both Poland and Croatia, in addition to organic growth initiatives, whilst we continue to pursue M&A opportunities," says Chief Executive Officer Nils Gornall.
Current stock price: 8.93 pence
12-month change: up 5.0%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Dp Poland (DPP)