Warsaw (Puls Biznesu) – Procad has submitted its issue prospectus. The small software producer and distributor hopes to attract investors with high growth dynamics.
Procad submitted its issue prospectus two days ago. The producer and distributor of software used in designing plans organic growth and acquisitions of several rivals. The company does not want to reveal how big the issue will be. It may be about a dozen millions zloty.
“The aim of the IPO is to develop our own products based on the software of U.S. Autodesk. We also want to strengthen our presence in different cities (Procad has five outlets today) and acquire rival companies”, Jaroslaw Jarzynski, Procad CEO said.
He added that the company is interested in firms developing their own software.
Last year, Procad had PLN 14.7m (EUR 3.8m) of sales and PLN 0.43m of net income. Sales grew 50 percent in comparison to 2004 when they amounted to PLN 9.8m. The net income jumped 233 percent from PLN 0.12m.
“This year, we expect sales to grow 60 percent and net income to double. There is a big demand for our products. New and new sectors start to use this software and we want to take the chance and develop thanks to the listing. In effect, we expect that sales will grow in upcoming years at a similar level as this year”, Jaroslaw Jarzynski said.
The company would like to conduct the IPO this year.
(PLN 1 = EUR 0.257)