Tommy Group to list in Zagreb, targets €180–200 million IPO
Tommy Group has submitted an IPO prospectus to HANFA and plans to offer 25–27% of equity to investors, targeting a listing by end-November.
Croatian retail group Tommy Group plans an initial public offering on the Zagreb Stock Exchange with a target of raising between €180 million and €200 million to finance further expansion of its business.
Under the announced terms, investors would be offered 25–27 percent of the group's equity, and the shares are expected to begin trading by the end of November if the timetable holds.
A few days ago Tommy submitted the IPO prospectus to the Croatian Financial Services Supervisory Agency (HANFA). The prospectus contains the company's operating data, financial results, risk disclosures and the terms of the offering that potential investors need to evaluate before deciding whether to subscribe.
Group structure and use of proceeds
Tommy Group comprises its namesake retail chain together with the bakery Bobis and the meat-processing company Petason, operating across retail, bakery production and meat industry segments.
Company officials say the proceeds from the sale of shares will be fully allocated to further development and expansion of the group's activities.
If the planned offering succeeds in raising €180–200 million, it would likely become the largest IPO by a private company in the history of Croatia’s capital market. The transaction still depends on regulatory approval from HANFA and completion of the remaining listing procedures.
Photo: press material from the event
