Warsaw, Poland — Polish chemicals group Ciech shares are now traded on the Frankfurt Stock Exchange, the company said in a statement.
Ciech is also listed on the Warsaw Stock Exchange.
“We believe that the dual listing of our shares will improve the attractiveness of Ciech and have a positive impact on the long-term development of the value of the company. At the same time, I would like to emphasise that the Warsaw Stock Exchange continues to be our main listing market,” said Maciej Tybura, the president of the management board of Ciech.
Through its subsidiary Ciech Foams, the group says it controls between 15% and 17% of Poland’s PU foam market. In the first half of 2016, Ciech sold PLN 113.96 million (€26.14 million) worth of PU products, a slight improvement from PLN 113.94 million (EUR26.13 million) in the same period last year.
Established in 1945, Ciech is controlled by KI Chemistry, a Luxembourg-based company owned by the Kulczyk family, with a stake of 51.14%, according to data from the group.
XE Currency conversion: 13 September, 2016