BUSINESS

Penta plans Fortuna share sale in Warsaw

TAGs: Fortuna Entertainment Group, Penta Investments, Warsaw Stock exchange

Penta Investments has announced their plans to sell shares of gaming compnay Fortuna Entertainment Group and list the company on the Warsaw stock exchange.

Penta disclosed in a press release that the offering would include a public sale of shares and a private placement in what they termed as “selected jurisdictions outside the Czech Republic, Poland and Slovakia” However, figures of the to-be share prices and a price target were not disclosed.

In the release, Penta Investments chairman Jiri Bunda remarked that selling the shares of Fortuna would enable the company to obtain resources and capital to pursue futher development.

Fortuna was started some 20 years ago in 1991 and was later sold to Penta Investments in 2005, the company believes this move will see Fortuna become a stock with a robust dividend payout of between 50 percent and 100 percent of net income. Fortuna is currently active in the Czech Republic, Poland, Hungary and Slovakia and has been expanding beyond outlets into internet gaming and franchises over the years. As of last year, Fortuna reported consolidated sales of 2.2 billion euros.

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