Work Service has published its prospectus
On 24 November 2011 the largest Polish company from the personnel services sector published its prospectus prepared in relation with the initial public offering of shares of Work Service S.A. Under the initial public offering, Work Service will offer 20 million shares, which constitutes the total of 32.41% of all the shares in the Company. Subscription for shares for investors starts on 14 December. The prospectus was approved by the Polish Financial Supervision Authority on 17 November 2011.
The public offering includes 20 million L series shares. Primary subscription for shares will take place from 14 to 16 December. Individual investors will be able to subscribe for shares at customer service centres of Dom Maklerski IDM S.A. acting as the underwriter, and the institutional investors at the registered seat of IPOPEMA Securities S.A. being the advisor as part of the process and at the branch of Dom Maklerski IDM S.A. in Warsaw. The final price and the number of shares offered in individual tranches of the issue will be provided on 13 December 2011.
“The IPO of our company will entail emergence of a new sector on the WSE. At present, the personnel services market in Poland is estimated to be worth over 600 million euro, and its development in the forthcoming years will not be lower than 10% annually1,” comments Tomasz Hanczarek, President of the Management Board of Work Service S.A. “All over the world the companies from the personnel services sector are included in the main stock exchange indexes. Our company will also strive for that, since we are entering the Warsaw trading floor from the position of a leader of this market in Poland,” adds Tomasz Hanczarek.
“In line with the development strategy adopted by us, we will be consistent in carrying our consolidation of the deeply divided HR market both in Poland and in the Central and Eastern Europe. Among other things, we want to use the capital acquired from the issue of shares to finance acquisition of a leading company in Poland, specializing in the provision of IT specialists outsourcing services. Pursuant to the already concluded purchase agreement we plan to pay PLN 45 million for 75% of shares in IT Kontrakt, which will allow us to enter a new field of the market in Poland and offer the services of this company in the Czech Republic, Slovakia, Germany and Russia,” concludes Dariusz Rochman, Vice-President of the Management Board of Work Service S.A.
Work Service S.A. is the largest company on the Polish market of personnel services, basing its operations on offering innovative solutions related to flexible forms of employment, personnel consultancy and outsourcing of business processes handled by employees of the company. The company was established in 1999, and it has been one of the creators of the temporary work market in Poland. The Work Service Capital Group operates also in the Czech Republic, Slovakia, Russia and Germany, as well as it has offices in Romania and Ukraine. Each year, thanks to Work Service, as many as 150 thousand people find employment in more than 2 thousand workplaces. Work Service is a key partner of such companies as e.g.: Orange, VW, Reckitt-Benckiser, Canal+, Allianz, GM and Kraft. In 2010 revenues of Work Service Capital Group reached almost mPLN 500, which is an increase by 38.3% year on year, while net profit grew nearly by 200% to the level of mPLN 15.7.
***
Work Service Capital Group provides services in the area of HR management. It specializes in selection and recruitment of qualified employees, personnel consultancy, full outsourcing of functions related with HR and auxiliary processes management in companies as well as offering solutions based on usage of temporary employment contracts. Work Service S.A. is the largest service company on the Polish HR market, operating in the whole country through the network of branch offices as well as abroad in five countries of the Central and Eastern Europe. Work Service has been present on the market since 1999, and due to long-term cooperation with the largest employers in Poland and abroad it has full knowledge of the labour market and comprehensive solutions supporting management. Even 1000 large companies have already chosen Work Service to be their business partner, appreciating the company’s experience, professionalism and individual approach. Each year, thanks to Work Service, as many as 150 thousand people find employment.
This material is intended for advertising/promotional purposes only and cannot be deemed a basis for purchasing securities of Work Service S.A. (“Company”) as part of public offering or recommendation which may be a basis for making investment decisions. The only legally binding document containing information on the Company and public offering of the Company’s shares will be the Prospectus, approved by the Polish Financial Supervision Authority on 17 November 2011, available online on the Company’s website: www.workservice.pl and the Underwriter’s (IDM S.A.) website: www.idmsa.pl. This material is not intended for dissemination, directly or indirectly, within the territory or in the United States of America or other countries where public dissemination of information contained herein may be subject to limitations or may be prohibited by law.
More information:
Krzysztof Inglot,
Press Officer, Work Service SA
tel. 508 040 345,
krzysztof.inglot@workservice.pl
