Oct 05, 2009. /Lesprom Network/. The Polish Financial Supervision Authority (KNF) has approved the prospectus of Arctic Paper. The value of the company’s public offering, planned for the first half of October, may be over PLN 200 million ($69 million), the company said in a press release received by Lesprom Network . Arctic Paper published its prospectus on 2 October and plans its debut on the Warsaw Stock Exchange in October this year. The Company plans to use proceeds from the new issue of shares for further growth of the group. "We are very pleased that Arctic Paper’s prospectus has been approved," said Michal Jarczynski, CEO of Arctic Paper SA. "This means that we can begin the public offering, the proceeds from which we intend to use for further growth of the group. I am confident that Arctic Paper, as a company with stable fundamentals and a consistently implemented growth strategy within its industry, will be greeted with a high interest by stock market investors." The Arctic Paper Group employs a total of nearly 1,100 people. The sole shareholder of Arctic Paper SA is the Swedish company Arctic Paper AB. The headquarters of the international group are in Kostrzyn, Poland. Arctic Paper has three paper mills, Kostrzyn in Poland, Munkedal in Sweden and Mochenwangen in Germany. The total production capacity of the three mills is 540,000 tons per year. Currently the Group has 15 sales companies in Europe.