IT firm Asseco Poland sets SPO price at PLN 54, eyes 13 foreign acquisitions.

By bne IntelliNews April 20, 2010
CEE's largest IT company Asseco Poland has set issue price in the secondary public offering of 3.88mn of series I shares (with rights issue) at PLN 54 (EUR 14), the firm has announced (vs. earlier pledged PLN 60). The firm hopes to raise PLN 209.5mn (EUR 53.6mn) from the SPO. The issue's proceeds are to be spent on acquisitions - the company said it was holding advanced talks with 13 foreign companies. Under the issue prospectus, subscriptions for the series I shares will be held on Apr 23 - May 5. All the proceeds of the series I share issue ill be earmarked for acquisitions of small- and medium-sized entities operating in the IT branch, mostly in the following three regions: the area of operations of Asseco South Western Europe (Spain, Portugal, Italy, France), the area of operations of Asseco DACH (Germany, Austria, Switzerland), the area of Northern Europe (Denmark, Finland, Sweden, Norway), the issue prospectus reads. Asseco Poland could acquire three Spanish IT firms by early summer (June-July), company officials have told a news conference. The three Spanish firms are an ERP firm, a firm specialising in cloud computing and a firm providing software for POS [point-of-sale] systems and terminals. In 2009, the first firm had annual revenue of EUR 18mn and net profit of EUR 1.25mn, the POS systems firm revenue of EUR 12.4mn, net profit of EUR 1.3mn, and the cloud computing firm revenue of EUR 12.6mn and net profit of EUR 2mn. In 2009, Asseco Poland reported consolidated revenue of PLN 3.05bn (EUR 778mn) and net profit of PLN 373.4mn (EUR 95.3mn). ISB, tom

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

EC refers Poland to court for delay on renewable energy rules.

The European Commission is referring Poland (and Cyprus) to the Court of Justice of the European Union for failing to fully transpose EU's Renewable Energy Directive, according to the ... more

ZEW Economic Sentiment Indicator for Poland surges to 42.9pts in February.

The ZEW-Erste Group Bank Economic Sentiment Indicator for Poland (economic expectations) surged by 22.3pts m/m to 42.9pts in February, according to a report by the Center for European Economic ... more

FinMin: Poland to inject EUR 5.5bn of FX reserves to ECB upon euro-zone entry.

When Poland joins the euro-zone, it will have to transfer EUR 5.47bn of its foreign-currency reserves to the European Central Bank, according to a statement by the ministry of finance. The ... more

Follow Us On

Most Read

  1. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    7 days ago
  2. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  3. Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
    7 days ago
  4. Don't mention the "D" word - Ukraine
    5 days ago
  5. UBN: The US Needs to Wake Up
    5 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    25 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    30 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    28 days ago
  5. Saudi Arabia to scale back plans for Neom city
    15 days ago

Reports

Dismiss