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Work Service has debuted on the WSE

Series L shares of Work Service S.A., Poland’s personnel services market leader, has debuted on the main market of the WSE today. The opening price of allotment certificates was PLN 6. The share price started to grow rapidly and after fifteen minutes the price of allotment certificates increased by over 33% to PLN 8. At around noon the price consolidated at around PLN 7 with over 178 thousand shares traded, with a transaction value of 1 361 000. 

The total value of Work Service’s public offering from March until now has exceeded PLN 30 million, and investors have been allocated 5 117 881 shares at PLN 6 each. Work Service S.A. is 433rd company listed on WSE and the first to come from the personnel services sector. The underwriter was Dom Maklerski IDM SA. Work Service is the eighth debut in 2012.

The acquisition of over PLN 30 million from the new issue of shares with the use of a bank loan will allow us to achieve the main issue goal by acquiring 75% of IT Kontrakt. The whole group will enter a new and promising IT market through this acquisition. We will offer our new services to numerous clients in Poland as well as on foreign markets, mainly in Germany and East-Central Europe,” comments Tomasz Hanczarek, President of the Management Board of Work Service S.A.

“Being listed on the stock exchange is the next step in the implementation of our development strategy. We anticipate that consolidation of the personnel services market in Poland, combined  with the organic development of the Work Service Group, will translate into revenues of over PLN 815 million and keep growth at 31%, which is the benchmark that we have set in recent years adds Dariusz Rochman, Vice-President of Management Board of Work Service S.A.

Work Service S.A. is the largest company on the Polish personnel services market, basing its operations on offering innovative solutions related to flexible forms of employment, personnel consultancy and business process outsourcing. The company has shaped the temporary work market in Poland since 1999. Each year, Work Service S.A. finds as many as 150 thousand people employment in more than 2 thousand workplaces. The company is a key partner of companies such as Orange, VW, Reckitt-Benckiser, Canal+, Allianz, GM and Kraft.

In recent months the Work Service Group has opened branches in two new markets: Bulgaria and Turkey. It already has operations in Russia, Germany, the Czech Republic, Slovakia and the Ukraine, representing East-Central Europe’s most important markets. Furthermore, Baby&Care, a company which delivers specialised caregivers and medical staff to individual clients, joined the Work Service Group at the beginning of this year.

 

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Work Service Capital Group provides services in the area of HR management. It specializes in selection and recruitment of qualified employees, personnel consultancy, full outsourcing of functions related with HR and auxiliary processes management in companies as well as offering solutions based on usage of temporary employment contracts. Work Service S.A. is the largest service company on the Polish HR market, operating in the whole country through the network of branch offices as well as abroad in five countries of the Central and Eastern Europe. Work Service has been present on the market since 1999, and due to long-term cooperation with the largest employers in Poland and abroad it has full knowledge of the labour market and comprehensive solutions supporting management. Even 1000 large companies have already chosen Work Service to be their business partner, appreciating the company’s experience, professionalism and individual approach. Each year, thanks to Work Service, as many as 150 thousand people find employment.

 

 

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