WARSAW (Reuters) - Polish freight and cargo company OT Logistics (WA:OTSL) plans to debut on the London bourse (L:LSE) to tap foreign investors, its deputy chief executive was quoted as saying on Tuesday.
Three years after its Warsaw (WA:GPW) listing the European transportation, shipping and logistics company wants shareholders to vote on the dual-listing plan on June 30.
"Placing our shares on the LSE is to allow foreign investors easier access to our shares," Piotr Ambrozowicz told daily newspaper Parkiet. "We believe that with time our presence on the London bourse will allow us also to gain capital."
OT Logistics, which made a net profit of 15.5 million zlotys ($3.96 million) on sales of 752.3 million in 2015, also wants investors to vote on a 1-to-8 share split and a new share issue in Warsaw.
The company, which competes with state-run PKP Cargo (WA:PKPP) and Deutsche Bahn's [DBN.UL] DB Schenker around Europe, would be the second Polish company to double-list in London after staffing firm Work Service (WA:WSEP) (L:WSE).
Polish companies are seeking more liquid markets and access to new investors as trading on the Warsaw bourse stagnates.