Plantwear’s successful debut on the NewConnect Market

On January 8, 2020, Plantwear – the manufacturer of wooden products, debuted on the NewConnect Market. Plantwear is a company in which Carpathia Capital is an important shareholder. The first day of trading was successful, the share price exceeded the issue price by several dozen percent.

Plantwear is the first company to debut this year on the Warsaw Stock Exchange and the first company to debut after the start of the WSE Crowdfunding Partner program. The Company’s share price at the opening increased by 51.5% compared to the reference price.

In line with the assumed investment strategy, Carpathia Capital S.A. aims to diversify its investment portfolio by investing in many sectors. Plantwear, operating in the constantly growing e-commerce industry, is currently a leader in the production of wooden jewelry and watches, positioning itself in the luxury goods segment.

INC – an authorized advisor is responsible for introducing the shares to trading on the NewConnect Market. Plantwear’s debut on the Warsaw Stock Exchange is the first publication of the project that conducted the campaign on the CrowdConnect.pl platform. It is also the first company that raised capital in a crowdinvesting campaign and debuted on NewConnect after the launch of the WSE Crowdfunding Partner program. In the first half of 2019, Plantwear raised PLN 2.4 million on the CrowdConnect.pl crowdinvesting platform belonging to INC Brokerage House and in a private offer. Plantwear S.A. has followed a model path from obtaining financing through crowdinvesting to entering the public market.

The Company is consistently generating better and better sales results. According to estimates provided by Plantwear, revenues for the entire 2019 amounted to PLN 9.1 million and were by 92% higher than a year ago. In the fourth quarter of 2019, sales amounted to PLN 3.0 million. Wooden jewellery accounted for about 50% of sales of the Company last year, which means over 5 fold increase y/y. Revenues from the sale of wooden watches amounted to PLN 3.7 million  and were higher by almost 10% y/y.

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