The Initial Public Offering of shares in LIBERIS PUBLICATIONS, the Greek partner company of the Edipresse Group, begins today. Following flotation, 13.82% of the group's expanded share capital will be in public hands. Net proceeds from the IPO are estimated at around GRD 6 billion (CHF 31 million, EUR 20 million) and will be used to fund future development of the Liberis Publications group.
Liberis Publications is Greece's premier magazine publishing company with market leading titles in each segment where it operates. Major titles are Status, an upscale men's monthly, Ego, a women's weekly, 7daysTV (weekly television magazine) and Tile Kontrol (weekly television magazine). It also operates Hellenic Printing, a magazine printing plant. It has been associated with the Edipresse Group since 1998.
New shares equivalent to 15.25 % of Liberis Publications' current share capital are to be issued to the public and a further 0.79% are to be privately placed. Listing on the Athens stock exchange is expected to occur in early February. Following flotation, 13.82% of Liberis Publications' expanded share capital will be in public hands.
During 2000, Liberis Publications will be launching Greek editions of Vogue magazine and Focus magazine under licence. These new product launches will be funded by proceeds from the flotation. Additional uses of funds from the flotation will include funding potential future core business expansion plans, construction of a new office complex on land already owned by the Liberis Publications group, reduction of debt and working capital financing.
Contact us
Christopher Bolton
Edipresse Group
Phone: +41 (0)21 349 45 26
