As announced in a press release, Dr. Irena Eris' board of directors, together with the sellers of the shares, have decided to cancel the public offering due to unfavorable market conditions.
The decision to cancel the public offering means that subscriptions made for shares by individual investors will be considered invalid, and payments made will be returned to investors no later than 7 days after the decision to cancel the offering is announced.
Dr Irena Eris' public offering was to include a total of up to 12.5 million shares, including 11 million newly issued shares and 1.5 million existing shares. The maximum share price was set at PLN 12.8 apiece. Dr. Irena Eris wanted to raise about PLN 140 million from the issue of new shares.
In 2022, the Dr Irena Eris single revenues amounted to PLN 340.2 million, 14.3 percent more than a year earlier. At the time, the company recorded a normalized EBITDA result of PLN 54.9 million (+1.7 percent year-on-year) and a net profit of PLN 30.9 million (+16.2 percent year-on-year).
The key business segment of the group is the cosmetics segment, which accounted for 78 percent of total revenues at the end of 2022. The company owns the Dr. Irena Eris, Pharmaceris, Emotopic, Lirene and Under Twenty brands. Currently, the group has a total of 27 salons, operated mainly under a franchise model. The group's second business segment, which accounted for 22 percent of total revenues at the end of 2022, is hospitality services.
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