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HM Inwest debuted today (18.07) on the main floor of the Warsaw Stock Exchange (WSE). This is the fifth debut on the main market and the fourth transition from NewConnect since the beginning of the year. The company plans to reach 1,000 flats sold annually around 2020-2021.
Shy debut on the WSE
HM Inwest has already completed its first day of trading on the main floor of the Warsaw Stock Exchange. The company has introduced 2,336,312 A-series shares to trading. However, the debut was not very popular among investors. The initial price set at PLN 23.00 at the end of the session was lower by 1.74% and amounted to PLN 22.6. Throughout the day, there were only six transactions with the volume of 715 shares and the value of trading exceeding PLN 16.2 thousands.
HM Invest, in connection with its debut on the Warsaw Stock Exchange, has ambitious plans for the coming years. Already in the second quarter of next year, the company will plan to issue new shares for development purposes. The current transition from the NewConnect market to the main market is of a technical nature, said Piotr Hofman, the company’s CEO. As part of the issue, 30-40% of shares will be given away, and the funds will be used to increase the scale of development activity (including the purchase of land) and the development of a prefabricated factory.
The company also wants to start in 2023. (for 2022) to pay out an annual dividend, which is planned to be approximately 40% of annual profits.
Flats, hotels and prefabrication
HM Inwest expects to deliver about 200 units to its clients in 2019, while next year it will complete two large investments in Poznań, which will guarantee another solid number of deliveries. The company plans to reach the level of 1,000 units sold annually around 2020-2021 and then reach the level of even 2,000 units sold during the year.
The company would also like to show itself on the hotel market and continue the development of its prefabricated factory, for which the involvement in the Mieszkanie+ programme may be a great opportunity to use its production potential.