Answear.com a step away from being listed on WSE

Answear.com, the leading digital clothing sales platform in the CEE region finalizes the prospectus proceedings and prepares for the launch of the initial public offering. The company plans to debut on the main market by the end of 2020.

- Entering the stock exchange is a natural step for us connected with a dynamic business development, a large scale of operations and an appetite for more. Thanks to the public offering, we will obtain funds to achieve our strategic goals. I mean, first of all, to widen our product offer, develop our business on new markets, and increase the awareness of Answear.com brand among potential customers. These are the main pillars of development, which will directly affect the building of the company's value for our shareholders. – comments Krzysztof Bajołek, the President of the Board of Answear.com

The debut of Answear.com will be associated with the issue of new shares and the sale of up to 50% of the parcel of shares by MCI Capital (MCI. TechVentures 1.0). The majority shareholder - Forum X Fund, associated with President Krzysztof Bajołek and a member of the Supervisory Board Arkadiusz Bajołek, will not participate in the transaction. The shareholders will undertake not to sell the Company's shares for 12 months from the transaction.

Answear.com is an online sales platform with branded clothing, footwear and accessories that has been operating since 2011. The company currently operates in 7 Central and Eastern European countries: Bulgaria, Czech Republic, Poland, Romania, Slovakia, Ukraine and Hungary. The sales are geographically diversified and none of the markets represents more than 30% of the Company's total revenue. Answear.com offers around 90 thou. products of over 350 global brands.

- We have already achieved a large scale of activity, for the last 12 months (counted from the end of September) our revenue amounted to PLN 369 million. At the same time, we maintain high growth rates of several dozen percent. In November we generated record sales results in the history of the platform, revenue increased by more than 60 percent y/y. This allows us to look at the results for the fourth quarter with great optimism. – says Krzysztof Bajołek.

Details of the offer will be made available in the prospectus after its approval by the Polish Financial Supervision Authority. After publication the prospectus will also be made available on the Company's website https://answear.com/relacje-inwestorskie.

- In mid-September we submitted the prospectus to the Polish Financial Supervision Authority. We are currently finalising this procedure. We hope to be able to make our debut this year. – adds Krzysztof Bajołek.

The global coordinators of the offer, who keep the book of demand are mBank and Trigon Dom Maklerski. The Company's legal advisor in this process is the Law Firm Dubiński Jeleński Masiarz i Wspólnicy. The Company's auditor is Grant Thornton.