News blog
DP Poland
- BY: Andrew Hore |
- POSTED: 23/12/2011 |
DP Poland, the Domino’s Pizza master franchise owner for Poland is raising more cash in order to finance further store openings.
DP Poland is raising £2.75m from a placing at 60p a share and up to £1m from a one-for- 11.86714 open offer at the same price. The new shares are eligible for EIS relief. Investors can still buy existing shares and be able to participate in the open offer up until 13 January. Shareholders will be able to subscribe for additional shares if they are available.
DP Poland originally raised £6.5m at 50p a share when joining Aim in July 2010. The net proceeds of the latest fundraising will be £3.52m – assuming full subscription. There was £1.53m in the bank at the start of November 2011.
Management wants to reach 20 stores in 2012, which is a level where it can start to sub-franchise. So far 12 stores have been opened. The first was opened in February and sales from early stores continue to grow.
At 65p a share, DP Poland is currently valued at £12.9m. In the past year the share price was as high as 119.5p.
Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFDecember2011_27.pdf
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