BPSC software producer plans an IPO and acquisitions in the East

APA - Austria Presse Agentur
07-09-2006, 12:54

Warsaw (Puls Biznesu) – BPSC plans an IPO in the first half of 2007. It will soon acquire a Ukrainian company.

Warsaw (Puls Biznesu) – BPSC plans an IPO in the first half of 2007. It will soon acquire a Ukrainian company.

BPSC, a software producer from Chorzow, is preparing its issue prospectus. Details of the IPO planned by the ERP class software producer are not known yet. The venture capital funds from Caresbac Polska which invested in 1992 as well as the Growth Fund, which bought a stake in BPSC in 2000, may sell their stakes. The two shareholders have about 60 percent of the software house.

“We are talking about this issue with the funds. I’m sure they will want to withdraw from the investment, at least partially”, Franciszek Szweda, BPSC deputy CEO said.

The IPO is planned in the first half of 2007.

“It depends, however, on the situation on the stock market. We also want to have a special argument to attract investors”, Franciszek Szweda said.

BPSC is expanding abroad. In 2005, the company added the new language versions (English, German and Russian) to its products. It has signed two contracts: in Lithuania and Belarus recently. Yesterday, the company ended negotiations to buy a Ukrainian firm.

“They started operations in 1990ies. They operate in Russia and Ukraine. Their products would be complementary to ours as far as financial and accounting elements are concerned. We want to buy a majority stake of the company and inject capital in the company”, Franciszek Szweda said.

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Podpis: APA - Austria Presse Agentur

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