: Fashion designer Minge on the market in Poland
Ewa Minge, the popular Polish fashion designer with the memorable name has floated her latest fashion business on the Warsaw Stock Exchange. This is actually quite a development - something like that in a more established trading environment would be traded on a secondary market if at all. Given that it's a start up with only 3 shops, it's almost crowdfunding. Perhaps this is the way to go.
I wouldn't myself - far too risky, but micro-microcap (nanocap?) stocks could well be the way for the future - and great news that the WSE has allowed this.
Shares in designer Ewa Minge's company will be sold to individual investors from 25 June until 2 July, with sales to institutional investors open one day longer, until 3 July
The company is counting on proceeds of about PLN 16 million (approx. EUR 3.8 million) from the IPO. The 450,000 shares on offer are expected to go at about PLN 35 (approx. EUR 8.50) apiece.
Investors are reportedly treating the offer as they would a start-up. The company's first three stores opened in April, with 25 expected by the end of the year, 10 owned by the company and 15 franchised out.
Of course with only three shops and virtually unknown out of Poland, plus a name that doesn't transfer well to English-speaking markets, there's a big danger that Minge is going to be licked by the competition...