CZG-Ceska Zbrojovka Group dramatically cut the size of its initial public offering, after weak demand for its shares. CZG had initially looked to raise up to 4.8 billion crowns to help fund its US expansion. On Friday, it said that gross proceeds from the IPO were 812 million crowns after cutting the offering to 2.8 […]
CZG-Ceska Zbrojovka Group will likely cut its Prague share offering by over half due to weak demand from investors, according to three sources with knowledge of the deal, Reuters reports. CZG, which undertook a technical listing earlier this year whereby shares were admitted to trading without raising funds, had aimed to raise up to 4.8 […]
Several hundred Czech steelworkers gathered in Ostrava to demonstrate in defense of the European steel industry. According to the demonstrators, European steelworks are threatened by imports of cheap steel from countries outside of the European Union. If the EU does not extend protection measures, which are due to expire next June, it could lead to […]
Seven groups have applied to take part in the Czech Republic’s auction for new frequencies for next-generation 5G networks, telecoms regulator CTU said on Thursday. The CTU stated that all requests of existing operators for the issuance of interim measures, filed with the court to stop the tender, were rejected. None of the operators succeeded […]
Karel Komarek’s KKCG has invested $25 million in Freeletics series B funding round. Freeletics is the developer behind one of Europe’s largest fitness applications of the same name that is powered by artificial intelligence. Jazz Venture Partners fund led the Series B and, in addition to KKCG, Causeway Media Partners joined. It focuses on investing […]
PPF Telecom Group B.V. has issued another batch of Eurobonds worth half a billion euros. The senior secured bonds are for seven years and carry a fixed annual coupon rate of 3.25 percent. The sale is PPF’s fourth offering within eighteen months. In May this year, Eurobonds worth half a billion euros were also sold, […]
Petr Kellner’s Home Credit Group, which provides consumer loans worldwide, reported a loss of EUR 619 million in the first half of the year. The loss was due to the creation of massive reserves of 1.8 billion euros to cover the risks associated with the global coronavirus pandemic. A year ago, Home Credit had a […]
The Polish government has agreed with unions to phase out coal mining in the country. According to the agreement, the last coal mines in Poland are to be closed in 2049. Until then, the government will subsidize coal mining. The deal will end an underground protest by about 200 miners, which began on Monday. The […]
Unipetrol’s new PE3 polyethylene unit at its Litvínov plant is now fully operational, thus completing the largest investment in the Czech chemical industry’s history. In the spring, they put into operation the first part of the unit, the Natural Line, which produces natural polyethylene. The second part, the Black Line, will be used for the […]