Biuro Projektowania Systemow Cyfrowych (BPSC) wanted to raise PLN 12m (EUR 3.5m). The debut was planned at the middle of June. The company gave up the IPO, however.
“Present shareholders decided not to sell shares but there will be a new issue. A foreign investment fund is interested to buy the shares”, Ignacy Miedzinski, BPSC CEO said.
The funds which own BPSC stock today do not want to sell their stakes at PLN 13 a share.
With the new investor, BPSC will be able to implement its acquisition plans worth PLN 6m. Another PLN 6m were supposed to be spent to develop subsidiaries. Ignacy Miedzinski who himself has 13.89 percent of the shares, admits that it is possible that the company is listed on the WSE.
“We may reconsider an IPO when the market is bullish”, the CEO said.
(PLN 1 = EUR 0.294)