Following the successful strategic alliance with Panasonic, Gorenje embarks on a new capital increase that includes secondary listing on the Warsaw Stock Exchange

Tomorrow, November 20, 2013, Gorenje will launch the offering of its 10,440,835 newly issued shares. The issue value of these shares will amount to EUR 45 million. Price per share is set at EUR 4.31, which is the same as the price in the first capital increase in which the Japanese corporation Panasonic subscribed and paid Gorenje shares with a total value of good EUR 10 million. The new capital increase will take place in two rounds. In the first round, Gorenje will address the current shareholders; in the second round, further divided into two steps, Gorenje will invite its employees, followed by new investors. The stock will be offered in Slovenia and Poland; in the latter market, Gorenje will invite both institutional and retail investors to subscribe the new shares. All Gorenje shares will presumably be listed on the Warsaw Stock Exchange, in addition to the Ljubljana Stock Exchange, by the end of this year.

Gorenje will use the proceeds of the second capital increase to deleverage and to fund the projects planned in the revised Strategic Plan for the period 2014–2018. Approximately two thirds of the proceeds will be used for deleveraging, and the rest will be allocated to strategic projects.

Gorenje President and CEO Franjo Bobinac: "The current capital increase, following the successful forging of the partnership with Panasonic, is an important step in Gorenje's development strategy. The proceeds will be used to further improve the Group's financial stability and to fund the strategic projects upon which the Group's further growth is based."

Gorenje CFO Peter Groznik: "Secondary listing on the Warsaw Stock Exchange will allow Gorenje broader access to the capital markets and improve the Group's recognition in the international financial markets, with financial institutions, business partners, and customers. Moreover, secondary listing may improve the liquidity of Gorenje's shares."