Warsaw (Puls Biznesu) – The state-owned telecom plans to raise PLN 150-300m (EUR 39.3-78.6m) in the stock exchange. It must receive the permission from the Ministry of the Treasure first.
Exatel, the telecom controlled by state-owned PSE energy company (95 percent) has just finished its three-year strategy.
“We want to build an alternative to TP telecom and offer convergent services, ranging from fixed-line voice telecommunication, mobile internet, mobile telecommunication – all these offered with one telephone number”, Jaroslaw Starczewski, Exatel deputy CEO said.
The company hopes to develop thanks to contract for network for administration. The government has for quite a while repeated that it needed an IT network for administration – the so called STAP.
“All telecommunication companies which are directly or indirectly owned by the Ministry of the Treasure would develop the project. Next to us, these would be the following companies: Polkomtel, Telekomunikacja Kolejowa or Telefonia Dialog”, Krzysztof Witon, Exatel CEO said.
In 2005, the government approved of the project to build one network for administration. As Grzegorz Blizniuk, deputy minister in the Ministry of Internal Affairs and Administration said, the ministry will probably announce the model it chose in the middle of February.
Prior to this large project, the network for the Ministry of Justice may be implemented. Exatel said last week it won the contract.
For the time being, Exatel is developing its WiMAX network allowing for mobile internet and internet telecommunication. The company is going to invest PLN 150m, including PLN 120m this year. Exatel needs mobile telecom services. However, NOM, a company in which Exatel has 65 percent, is going to launch services of Mobile Virtual Network Operator. Polkomtel, one of Poland’s three largest mobile operators, would offer its network.
Apart form PLN 120m for WiMAX, Exatel plans to spend over PLN 80m for investment. It wants to raise funds in the Warsaw Stock Exchange.
“We consider an IPO this year. However, PSE would have the control over the company”, Krzysztof Witon said.
Just over 40 percent of shares would be listed.
“We would like to raise PLN 150-300m in the IPO to develop the telecommunication sector in Poland, including the state sector”, Krzysztof Witon said.
Exatel’s supervisory board has approved of the IPO. Detailed schedule will be ready within two weeks.
In 2005, Exatel had PLN 73.5m of net income against PLN 496.9m of operating sales. This year, it forecasts PLN 10.2m of net income against PLN 630.4m of operating sales. The company was founded in 2004 in a merger of Tel-Energo and Tel-Bank, operators specializing in banking, energy and operator sectors.
(PLN 1 = EUR 0.262)