The reasons for the company to enter the stock market are, according to its chairman Roman Glaser, the size of the company and the almost certain need for fresh capital in the future
Perutnina Ptuj, Slovenia's largest poultry company, will enter the stock market, most likely in 2006 or 2007, its chairman Roman Glaser told the business daily Finance on Monday, 5 September.
"We could do it right now, but want to increase the return on equity from the current 3% to 6% or 7%," said Glaser. He explained that the company's largest owners, state-run fund KAD, brewer Lasko and bank Probanka, showed scant interest in listing the company.
The reasons for the company to enter the stock market are, according to Glaser, the size of the company and the almost certain need for fresh capital in the future. Therefore Perutnina's listing is only a question of time.
Glaser also told Finance that they could enter a foreign stock exchange, but did not rule out the possibility of entering the Ljubljana one.
With two suppliers buying large stakes in grocer Mercator, Glaser was asked if he would buy a stake in a retail company. He said he did not consider it a good idea, saying that a producer should keep its options for cooperation with various retailers open.
Perutnina has increased its exports by 85% last year and now sells half of its products abroad, Glaser said. He believes the Slovenian red meat-processing industry is facing problems because of large domestic supply and scant exports.
The Ptuj-based company is ready for a potential outbreak of the avian influenza, although Glaser does not expect one to happen. He told Finance that his company is on highest alert, implementing stringent safety measures for the company and its suppliers.
Source: Slovene Press Agency STA