Warsaw (Puls Biznesu) – The company is not planning its second attempt to raise funds on the stock exchange soon. Anica plans to generate the highest results in its history this year.
Anika System, which was planning its IPO at the end of this year, has modified its strategy and is financing its development from its current revenues.
“We won’t conduct the issue this year. We don’t talk about it with our shareholders, “Mariusz Lizut, the financial director of Anica said.
The company specializing in mobile IT solutions for FMCG sector attempted to sell its shares to stock investors in April 2005. Thanks to the new issue, the company hoped to raise PLN 11m (EUR 2.8m). Meanwhile, financial investors including Pekao Fundusz Kapitalowy and Lubelski Fundusz Kapitalowy planned to withdraw from the investment. However, due to poor climate for IT companies, the offer was cancelled. Anica had PLN 2.7m of net income in 2005, according to forecasts, while its sales were 20 percent higher than expected and exceeded PLN 30m.
This year, the results should be even better.
“We are expecting the highest results in our history”, Mariusz Lizut said.
The issue prospectus provided for PLN 30.5m of sales and PLN 3.4m of net income. Despite no additional funds, the company builds new products and offers them abroad. It has problems with a data center.
“We have run out of funds”, Mariusz Lizut said.
The company is still considering where to raise funds. However, the management refused to tell the deadline of possible IPO.
(PLN 1 = EUR 0.252)