Polish freight firm OT Logistics plans London listing -report

OT Logistics SA

14/06/2016 07:55

WARSAW, June 14 (Reuters) - Polish freight and cargo company 
OT Logistics  OTSL.WA  plans to debut on the London bourse 
 LSE.L  to tap foreign investors, its deputy chief executive was 
quoted as saying on Tuesday. 
    Three years after its Warsaw  GPW.WA  listing the European 
transportation, shipping and logistics company wants 
shareholders to vote on the dual-listing plan on June 30. 
    "Placing our shares on the LSE is to allow foreign investors 
easier access to our shares," Piotr Ambrozowicz told daily 
newspaper Parkiet. "We believe that with time our presence on 
the London bourse will allow us also to gain capital." 
    OT Logistics, which made a net profit of 15.5 million zlotys 
($3.96 million) on sales of 752.3 million in 2015, also wants 
investors to vote on a 1-to-8 share split and a new share issue 
in Warsaw. 
    The company, which competes with state-run PKP Cargo 
 PKPP.WA  and Deutsche Bahn's  DBN.UL  DB Schenker around 
Europe, would be the second Polish company to double-list in 
London after staffing firm Work Service  WSEP.WA   WSE.L . 
 urn:newsml:reuters.com:*:nL8N15X3N1 
    Polish companies are seeking more liquid markets and access 
to new investors as trading on the Warsaw bourse stagnates. 
    ($1 = 3.9154 zlotys) 
 
 (Reporting by Adrian Krajewski, editing by Louise Heavens) 
 ((adrian.krajewski@thomsonreuters.com; +48 22 653 97 09; 
Reuters Messaging: 
adrian.krajewski.thomsonreuters.com@reuters.net)) 
 
Keywords: OT LOGISTICS IPO/