Polish debt collector GetBack SA decided to consider various potential strategic options, including finding a strategic investor or forming a strategic alliance, to ensure the further development of the group.
The company also said March 2 that it wants to hire a business adviser to conduct a review of the selected options.
GetBack also noted in a separate filing from the same day that its board intends to ask shareholders to approve a capital increase by up to 999,999.95 Polish zlotys via the issuance of up to 19,999,999 shares. In addition, the board wants to receive a 12-month authorization to carry out one or several increases of share capital by no more than 2,500,000 million zlotys through the issuance of up to 50,000,000 ordinary shares to be offered to existing institutional shareholders, as well as other investors to be selected by the board or in an open subscription.
In both capital hikes, the issue price and the final number of shares will be set by the board based on the price of GetBack shares and taking into account the result of the bookbuilding process among eligible investors. The board will propose to waive the existing shareholders' preemptive rights to all shares to be issued to ensure the fastest and most effective way of raising funds.
The company hopes to raise around 1 billion zlotys from the share issues, news agency PAP said, citing GetBack CEO Konrad Kakolewski. The first issuance will be carried out in March and will target local investment and pension funds. The second share offering will follow shortly afterward and will be aimed at long-term financial investors from abroad, the executive was cited as saying.
As of March 2, US$1 was equivalent to 3.41 Polish zlotys.
