After Infovide-Matrix and B3System, Power Media of
Wroclaw wants to be listed on the Warsaw Stock Exchange. The company offers IT
projects and online accounting for small companies. Power Media has already
submitted its issue prospectus at the supervising authorities. It expects the
IPO will be conducted in September-October. 2.8m newly issued shares plus
300,000 shares of B series will be offered to investors.
“The company is
small but its twice as big as Netmedia which had its IPO last year. This kind of
offer: small but profitable, will be interesting for investors. It should be
successful”, Jaroslaw Parczewski, DM BGZ analyst commented.
Power
Media wants to raise several dozens million zloty.
“We will spend the funds
to develop ifirma.pl website offering online tax services to small companies. We
are going to have 20,000 users within two years”, Wojciech Narczynski, Power
Media CEO and one of the main shareholders said.
Today, the company has
1,600 clients. Last year, Power Media had PLN 1.36m (EUR 361,000) of net income,
or 372 percent more than a year earlier, and PLN 10.62m of sales, or 168 percent
more than in 2005.
(PLN 1 = EUR 0.266)