Belgian crystal manufacturer Val Saint-Lambert plans to make its stock exchange debut on the Marche Libre of Euronext Brussels on 30 December 2005, company managers were quoted as saying on 30 Novembe…
Belgian crystal manufacturer Val Saint-Lambert plans to make its stock exchange debut on the Marche Libre of Euronext Brussels on 30 December 2005, company managers were quoted as saying on 30 November 2005. The firm will launch a public subscription offer of a maximum of 428,572 new shares, or 342,858 as a firm-price offer and 85,714 shares as a placement. The offer runs from 5 to 23 December 2005, at a price per share of EUR 5.68 (USD 6.6). The company aims to raise an estimated net EUR 2.155 million (USD 2.5 million). The proceeds from the floatation will be used to open a number of stores in Belgium and further afield, among other things. Val Saint-Lambert opened a store in Brussels“ Sablon district on 1 December 2005, which is expected to generate about EUR 500,000 (USD 584,800) in annual turnover, a performance in line with the store in Seraing, Liege province, where the company is based. By the end of 2006, Val Saint-Lambert plans to open three more shops, in Paris, New York and Tokyo. Another three shops, in London, Dubai and Milan, are on the agenda for 2007. Stores in Toronto, Berlin and Riyad will follow in 2008. Net turnover of Val Saint-Lambert on 31 December 2005 is expected to be EUR 3.4 million (USD 4.0 million) and EUR 6.5 million (USD 7.6 million) on 31 December 2006.