Karen Notebook distributor to offer services

MG
09-08-2007, 10:12

Warsaw (Puls Biznesu) – One of Poland’s biggest notebook distributors presented details of the strategy it is going to finance with an issue worth PLN 40m (EUR 10.6m).

“Companies offering services connected with portable computers have the biggest chances in our branch”, Zbigniew Gzyl, Karen Notebook CEO said.

That’s why his company will offer consulting services and data recovery. The commissions amount to 10 percent and are twice higher than the ones generated in distribution. Therefore Karen will spend PLN 15m for services. It will acquire existing companies, both mature ones and start-ups. It is currently negotiating with five companies. The management assured that the first contract will be signed in the fourth quarter.

Karen Notebook will also spend PLN 19m to develop its retail network which should expand to 150 shops till 2008 against 110 ones today. An internet shop will be launched and logistic system improved as well. The remaining PLN 6m raised on the WSE will be spent to strengthen Karen’s subsidiary Idea Nord. Today, Idea Nord assembles notebooks under California Access brand. In the future, there will be other kinds of equipment as well.

“We are currently negotiating cooperation agreement with a US partner”, Zbigniew Gzyl explained.

If this plan is successful, Karen will employ new people and inject fresh capital into Idea Nord. In the middle of August, Karen will submit its issue prospectus to the financial supervision authorities. The IPO will be conducted at the end of September and beginning of October.

(PLN 1 = EUR 0.265)

 

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