About PLN 12m (EUR 2.9m) – those are the proceeds Polish film trader Pragma Trade (Tarnowskie Gory; www.pragmatrade.pl) generated during its initial listing on the Warsaw Stock Exchange’s “New Connect” segment. The company’s two leading shareholders, Michael Kolmasiak, who also holds the position of CEO, and Rafal Witek, both gave up 9% of their individual 45% of shares. Overall, 20% of Pragma Trade’s shares are now public floats in the hands of new investors.

Pragma plans to use the money to enter into the film processing and packaging segment, and to enlarge its export offering. A first plant is scheduled to come on stream in 2012, with an initial capacity of 2,400 t/y. The line will most likely be provided by machinery manufacturer HCI Converting Equipment (Taichung / Taiwan; www.hci.cc), for whose product portfolio Pragma has been the exclusive distributor since 2010. Come 2015, the Polish company plans to acquire a second plant and expand its production and storage space, which currently measures about 4,700 m². But Pragma is also looking to acquire other spaces.

Founded in 2003, the Tarnowskie Gory-based group so far traded in BOPP, BOPET and PVC film for print and lamination mostly. Company revenues reportedly reach PLN 40m – about EUR 10m. Poland’s flexible film market is estimated at PLN 500m.