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Ruch Chorzow enter stock market

15 August 2008 23:04

Ruch Chorzow, who have won the Polish championship for a record 14 times since its foundation in 1920, will sell their shares on the alternative market of the Warsaw Stock Exchange.

Chairman of the club, Katarzyna Sobstyl, announced that they would be the first Polish sports company whose shares would be exchanged at the stock market. The planned income of the issue is a minimum of 5 million zloty (about 1,5 million euros). The sum will be allocated to strenghten the brand of the company and to buy new players to the team.

The Ruch stocks will enter the NewConnect market, which is intended for young and more risky companies with high grow potential.

The principal shareholder of Ruch Chorzow is Mariusz Klimek, founder of the clothing company Reporter, also quoted at the Warsaw Stock Exchange. He invested into the 2nd division club in autumn 2005, when their debts exceeded 15 million zloty (4.5 million euros). In 2007 Ruch were promoted to the Ekstraklasa, which they finished in 10th place.

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