Warsaw (Puls Biznesu) – During its first trading day, Qumak-Sekom was rising even 12.2 percent to PLN 9.2 (EUR 2.3) but ended just over the issue price of PLN 8.2 due to weak market conditions.
Qumak-Sekom, the IT integrator managed by Pawel Jagus, had a good start on the Warsaw Stock Exchange. The stock cost up to PLN 9.2, or 12.2 percent above the issue price. The company raised PLN 20m and sold 2.5m shares, PLN 8.2 each. Magna Polonia fund sold part of its stake. The weak ending of the trading was due to poor market conditions. The market lost 3 percent yesterday.
Qumak-Sekom said it would have PLN 4.7m of net income this year. In 2007, the income should be even higher.
(PLN 1 = EUR 0.255)