The issue price in the Public Offering of the stocks of the BRASTER S.A. company, producer of an innovative system for breast cancer home preventive care, was set at PLN 13.50. The Offer is to include 3 million stocks in total, which means that the value of the offer may reach PLN 40.5 million.

Yesterday, BRASTER finished the book-building process. Within the Public Offering, the Company is going to offer 3,000,000 new stocks of series I. The issue price has been set at PLN 13.50 per stock, while the maximum level specified previously was PLN 16.50. Taking into account the specified issue price, the value of the whole Public Offering should reach ca. PLN 40.5 million gross (including the transaction costs).

"We are glad that despite competitive market conditions – numerous public offerings in the last month, our offer attracted a lot of interest. We are waiting for the completion of subscriptions for stocks among institutional investors. We are convinced that the execution of the Company development plan, including entering global markets, especially those where telemedicine develops fastest, will result in an increase in value for the investors who decide to join us." – said Marcin Halicki, President of the Management Board of BRASTER S.A. "Although the resources from the issue of stocks will be a little lower than expected at first, the strategy direction and our investment plans will not change. The issue objectives were presented according to their priority, which means that some of them may be possibly postponed." – the President added

At the same time, the number of offered stocks in the respective tranches was determined. In the end, the tranche for Individual Investors will include 76,010 stocks, and the tranche for Institutional Investors – 2,923,990 stocks. The subscriptions in the former group were made on 10-17 July 2017. The book-building process took place until 18th of July. The subscriptions in the latter group will be conducted on 19-21 July 2017. The stocks will be assigned to both tranches on 21st of July of this year. In the public offering process, IPOPEMA Securities S.A will be the Offeror.

The resources obtained from the Public Offering will be spent on the global expansion of the System of breast cancer home preventive care and on the development of the business in the area of telemedicine.

The issue prospectus and the documents are available at the Company website ri.braster.eu and at the website of the Ipopema Brokerage House www.ipopemasecurities.pl. At the website of the Company, one may also find more information on the activities of Braster and on the Public Offering.

Issue objectives:

  • Expansion into foreign markets and day-to-day costs of Company management (ca. PLN 31.3 million)

After the publication of the current strategy for the years 2015-2021 in March, the Company is planning a debut in about a dozen foreign markets in the years 2017-2018. At the end of June/beginning of July, the Company informed of signing agreements related to the start of pilot projects in Ireland, Japan and Dubai. In the upcoming weeks, the Company is looking forward to signing further agreements in Portugal and the Netherlands. Apart from the pilot project countries, BRASTER would like to debut in Great Britain until the end of this year. If the consent of the FDA is obtained, the Company would like to enter the US market this year. It is also planning to start technical pilot projects in Canada, Brazil, China and India. BRASTER will enter more markets in 2018 (Germany, Korea). For the purpose of executing the expansion plan, it is necessary to incur expenditure, in particular on increasing the working capital, preparing and conducting the marketing campaigns, increasing the sales capacity, developing the IT infrastructure, adapting the Braster System to the requirements of the respective markets, as well as conducting the certification procedures and maintaining the operating capacities of the Company.

Until 2021, BRASTER is planning to have entered markets which guarantee access to over 21 million people from the specific target group. Until that time, foreign sales will have constituted over 90% of total sales.

  • Development of a global telemedicine platform (ca. PLN 12.8 million)

One of the strategic objectives of the Company is also to construct a global integrated telemedicine platform, apart from the Braster System, as well as telemedicine solutions and devices of other producers, characterized by global sales potential. The vision will be executed, among others, by potential acquisitions. The Company is interested particularly in producers of telemedicine devices, providers of e-health services and products and the companies that provide telemedicine services.

  • Purchase of a real property in Szeligi (PLN 3.5 million)

In December 2016 BRASTER purchased a real property including a plot in Szeligi near Warsaw and the building situated on it, for the registered office of the Company and for conducting the process of manufacturing liquid crystal matrices. The real estate was purchased for the sale price of PLN 5.3 million. The payment was split into two instalments of: PLN 1.3 million and PLN 4 million. The Company paid the first instalment and some of the second one from a bank loan. The remaining amount of PLN 3.5 million is to be paid from the resources from the issue of new stocks.

Offer Schedule:

  • 6 July 2017 – Publication of the Prospectus

  • 7 July 2017 – Publication of the Maximum Price

  • from 10 July to 17 July 2017 – Period of subscription submission by individual investors

  • from 10 July to 18 July 2017 – Book-building

  • 18 July 2017 – Determination of the final number and price of the offered stocks

  • from 19 July to 21 July 2017 – Period of subscription submission by institutional investors

  • 21 July 2017 – Stock award and transaction settlement

  • 29 August 2017 – Planned date of listing the series I stocks in the Warsaw Stock Exchange

See also

A global telemedicine boom is coming – report summary

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A global telemedicine boom is coming – report summary

BRASTER to publish its Issue Prospectus and start the initial Public Offering

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BRASTER to publish its Issue Prospectus and start the initial Public Offering
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