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ML System plans electrifying IPO

Anna Pakulniewicz 07 June 2018

Anna Pakulniewicz

Journalist

+48 22 356 25 07
anna@eurobuildcee.com

Ania covers the Baltic states’ real estate markets, architecture and urban planning in Warsaw as well as interior design. She is also the co-founder of Eurobuild TV. Among others, she has been employed by TVN CNBC, PAP Insider, WBJ (The Observer), Poland Monthly and IMM. She graduated from the Warsaw School of Economics, majoring in international relations. She has also completed postgraduate studies in macroeconomic analysis. In addition to this, she studied Lithuanian philology

ML System plans electrifying IPO
POLAND ML System, a producer of building-integrated photovoltaics (BIPV) for the construction industry is debuting on the Warsaw Stock exchange and hopes to raise PLN 35 mln through the sale of shares for the further development of its business.

he maximum price in the IPO is set at PLN 29 per share offered, which means that a total of PLN 53 mln could be raised. The issuing agent and exclusive bookrunner is the Vestor Brokerage House. “Securing funding for our quantum glass project, which we plan to complete in 2020, is one of the reasons for the issue. We plan to start production of an innovative, transparent photovoltaic glass, which uses quantum dots. We believe that with this product, we will revolutionise not only the BIPV industry but also the glass industry. We intend to invest a total of PLN 38.8 mln in this project, a large part of which is to come from EU funds,” says Dawid Cycoń, the CEO of ML System. The company takes traditional building materials such as glass and turns them into photovoltaic cells which will additionally generate free electricity. ML System’s products include ventilated façades, window blinds, skylights, roofs and street furniture. The ML System factory has three production lines has its own innovative production plant which is equipped with three modern production lines and the company has already invested PLN 252 mln. ML System has three patents awarded and 13 applications pending. The company also intends to use some of the funds it raises for a foreign expansion including Scandinavia and Australia.Although no dividend is to be paid for 2018, ML System expects to pay out around 20-25 pct of its consolidated net profit and after the completion of its investment programme in 2020, it expects to raise the dividend to at least 50 pct of its consolidated net profits.


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