Collection Agency Kruk Debuts on Warsaw Stock Exchange

Eastern European receivables management and debt collection company Kruk S.A. made its debut as a publicly traded company Tuesday with its shares officially trading on the Warsaw Stock Exchange, according to a report in the Warsaw Business Journal.

Kruk is the largest ARM firm in Poland and Romania, according to the company.

After an initial public offering late last month, public shares opened for trading Tuesday at $14.56 and closed the day at $15.29. About 10 percent of the total offering was allotted for retail sale.

The company said that it would use the proceeds from the offering to fund debt portfolio purchases in Middle and Eastern Europe.

“We believe that both the growth potential of the Polish and other Middle European debt collection markets and the growth potential of KRUK are very promising for investors,” said Dariusz Prończuk, Managing Partner at Enterprise Investors – the private equity firm that ran the offering — and Chairman of the Supervisory Board of KRUK S.A.