Although the IPO of TF SKOK was not particularly successful, the company does not give up its plans but has goals even more ambitious than before. The company wants to be an active player on the market of non-cash transactions and wants to focus on several businesses. Acquisitions will help here.
“It takes a lot of time to build a network of ATMs. We may take over somebody or sign partner agreement with an operator already present on the market. We could jointly increase our reach very quickly”, Adam Meller, TF SKOK CEO explained.
He refused to answer whether talks are being held already.
TF SKOK has 25 ATM today but plans to increase the number to 160 this year.
The company plans also to issue debit and credit cards jointly with retailers, including cosmetics and consumer electronics shops. The management do not worry about funds. Although the company raised in the IPO much less than planned, i.e. PLN 4m (EUR 1.2m) instead of PLN 30m, it does not expect problems with financing.
“There are lots of possibilities. We may take a commercial credit for current operations, investments and potential acquisitions. But we have not made such decision yet”, Adam Meller said.
(PLN 1 = EUR 0.297)