Business News

Unior to Be Listed on Stock Exchange Next Week

Ljubljana, 18 August (STA) - Tool maker Unior Kovaska industrija will be listed on the Ljubljana Stock Exchange, quoted under UKIG on the basic market, as of Monday at the reference value of EUR 41.77 per share, the company said on Thursday.

Unior chairman Gorazd Korosec believes that the decision to be listed on the stock market, made last July, will boost the company's reputation and transparency as well as help Unior to achieve its goals.

Andrej Sketa, the boss of Ljubljanska borza, the operator of the Ljubljana Stock Exchange, shared Korosec's view, saying that listing would improve Unior's standing on both the domestic and foreign markets.

The company that has been in business for some 90 years has great ambitions, Korosec said adding that its goal by 2014 was to become known in metal industry and tourism as an international forward-looking company with annual sales amounting to EUR 183m.

He believes that the company will be a safe investment for shareholders with at least a 6.6% return on equity.

"We will be a link in a dynamic group which will put its synergies to best use and generate EUR 440m in sales and employ 4,216 people, while the return on equity will amount to 7.3%," Korosec added.

The group around Unior comprises 28 companies that operate in 19 countries across the world. The core company generated EUR 76.2m in revenues in the first half of 2011, which is up 26% compared to the same period last year and 2% above its half-year plan.

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