The issue price in the Initial Public Offering of shares of BRASTER S.A. was set at PLN 15. The Company successfully allocated all 2.6 million shares offered. If the issue finishes at such figures, the value of the offering will amount to gross PLN 39 million (including costs of issue). This amount will allow BRASTER to fully implement the strategy aiming at offering the Braster device for direct sale to women in the second half of 2016.
In line with the Company’s decision, retail investors will receive 28.5% and institutional investors 71.5% of series F shares.
"We are very pleased with our offering so far. Over a dozen institutional investors made preliminary declarations on subscription of shares. It would be impossible to achieve such an issue price without the presentation and initiation of a new strategy which projects that the Braster device will be addressed directly to women and will be available for sale in the second half of 2016. The amount of PLN 39 million will enable us to implement all objectives of the strategy." – says Marcin Halicki, President of the Board of BRASTER S.A.
Subscriptions for shares for institutional investors begin tomorrow and will last until May 19, 2015. The Company plans to move its listing from NewConnect to the main market of the WSE immediately after the completion of the offering.
BRASTER has developed a unique technology for producing liquid crystal matrices, based on which a prototype of the Braster device for breast cancer diagnostics was created.
In November last year, the Company presented its new strategy for 2015–2021, according to which the Braster device will be addressed directly to women, and will be placed on the Polish market in the second half of 2016. In order to place the device on the market, investments are needed in several areas, including primarily the construction of a technology line, development of the final, commercial version of the device, creation of a system that will automatically interpret thermographic examinations received from the Braster device, and completion of work related to market placement of the product. The PLN 39 million obtained from the issue will allow BRASTER to accomplish all objectives defined in the strategy that are necessary to place the Braster device on the market.