PAF financing agency plans an IPO next year

APA - Austria Presse Agentur
21-03-2005, 14:31

Warsaw (Puls Biznesu) – Polska Agencja Finansowa (PAF), a company dealing in small payments market, will grow rapidly soon. ‘Last year, we managed to open 162 outlets for small payments, including energy, gas, telephone bills. This year, we are going to increase their number to 400 outlets.

Warsaw (Puls Biznesu) – Polska Agencja Finansowa (PAF), a company dealing in small payments market, will grow rapidly soon. ‘Last year, we managed to open 162 outlets for small payments, including energy, gas, telephone bills. This year, we are going to increase their number to 400 outlets. Last year, when the company was launched, our net income amounted to PLN 25,000 (EUR 6,125). Now we want to develop our offer and increase sales’, Grzegorz Ignatowicz, one of PAF’s owners said. In January, PAF realised 320,000 transactions worth PLN 23 m. Its target is to have 1.5 transactions worth PLN 1.8 billion each month.

‘Therefore, we want to introduce banking offer. At first, we will operate with BHW group. We want our clients to get access to easy credits, and in the future maybe to mortgage credits’, Grzegorz Ignatowicz added. According to him, if PAF manages to realise these plans, it will conduct its IPO next year. ‘We would offer 40 percent of our shares’, PAF’s co-owner said. Funds raised in the stock market would be spent on acquisitions and expansion. PAF would like to enter Lithuania and take part in the consolidation of Polish finance services sector.

(PLN 1 = EUR 0.245)Poland/Enterprises/Financial services

 

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Podpis: APA - Austria Presse Agentur

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Inne / PAF financing agency plans an IPO next year