The supervisory board of housing developer JW Construction approved a new share issuance. As a result, more than 40.5 million shares will be hitting the market. “JWC needs a cash infusion which would make it possible for the company to improve its efficiency in developing new projects, as well as to increase sales and generate additional profits for the shareholders,” said Józef Wojciechowski, JW Construction’s majority shareholder, adding that he intends to acquire as many shares as possible.
The company says its key goal is to raise the funding needed to launch its Berensona housing project, as well as the second phase of Bliska Wola in Warsaw and two projects in Gdynia on Spokojna and Sochaczewska streets.
JWC’s development portfolio also includes the next phase of Zielone Doliny, Centrum II, in Łódź and a new scheme in Katowice, set to go up on Bałtycka street.
