Plantwear’s debut on the NewConnect Market

On January 8, 2020, Plantwear – the manufacturer of wooden products, debuted. Plantwear is the first company to debut this year on the Warsaw Stock Exchange and the first company to debut after the start of the WSE Crowdfunding Partner program. The Company’s share price at the opening increased by 51.5% compared to the reference price.

– We are very glad that we have joined the group of companies listed on NewConnect. After a year of intensive development, Plantwear transformed from a sole propietorship into a listed company. It was possible, among others thanks to the conducted crowdfunding campaign and building the community of clients and investors. – says Wiktor Pyrzyk, President of Plantwear.

INC – an authorized advisor is responsible for introducing the shares to trading on the NewConnect Market. Plantwear’s debut on the Warsaw Stock Exchange is the first publication of the project that conducted the campaign on the platform. It is also the first company that raised capital in a crowdinvesting campaign and debuted on NewConnect after the launch of the WSE Crowdfunding Partner program. In the first half of 2019, Plantwear raised PLN 2.4 million on the crowdinvesting platform belonging to INC Brokerage House and in a private offer. Plantwear S.A. has followed a model path from obtaining financing through crowdinvesting to entering the public market.

The Company is consistently generating better and better sales results. According to estimates provided by Plantwear, revenues for the entire 2019 amounted to PLN 9.1 million and were by 92% higher than a year ago. In the fourth quarter of 2019, sales amounted to PLN 3.0 million. Wooden jewellery accounted for about 50% of sales of the Company last year, which means over 5 foldincrease y/y. Revenues from the sale of wooden watches amounted to PLN 3.7 million  and were higher by almost 10% y/y.

– Sales results in 2019 significantly exceeded our assumptions and confirm the validity of the development strategy. It is important for us to expand the product offer and relationships with customers and the surrounding environment. We operate in accordance with the zero-waste policy, and also regularly organize tree planting campaigns. – adds Ewelina Bury, vice president of Plantwear

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