CEE's biggest IT firm Asseco Poland shelves debut on Nasdaq.

By bne IntelliNews March 31, 2011
CEE's biggest IT firm, blue chip Asseco Poland, after consultations with investors and investment banks, has decided to cease working on its debut on Nasdaq Global Markets, the company has said. Asseco does not exclude its debut on Nasdaq in the future if a chance to conduct an acquisition, guaranteeing the group's significant growth, arises. Asseco announced that analysis show that entering the American stock exchange needed shares issue worth between USD 150-200mn, while it does not need such funding now. In March, Asseco was to decide whether to change Formula Systems (Israeli's firm it purchased for USD 145mn last year) into Asseco Systems on the Nasdaq or whether to list here ourselves. ISB

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