The Start market has another successful issuer

The Czech leather processor KARO Invest a.s. successfully entered the Start market of the Prague Stock Exchange today, having raised CZK 40 million from Czech investors. All shares earmarked for the first IPO round were subscribed.

KARO Invest a.s. successfully sold a total of 1,000,000 shares at a price of CZK 40 per share, and has collected CZK 40 million from investors. The issue will be accepted for trading on the Start market as of 13 November 2019. KARO, a purely Czech company based in Boršov near Jihlava, is engaged in industrial leather processing. It mainly supplies furniture manufacturers.

“Another Czech company with a very interesting business idea and history is entering the Start market. From its start as a local player, it has evolved into a partner of large European furniture manufacturers. The funds raised on the capital market should help KARO consolidate this position,” says Petr Koblic, Chief Executive Officer of the Prague Stock Exchange.

Six companies (including KARO Invest, a.s.) are currently traded on the Start market, which was established by the PSE in 2017. The market is intended for issues of small and medium Czech enterprises. Trading is concentrated into auctions held every month. The schedule of auction days along with other information is available on the dedicated website: www.pxstart.cz.

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