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Blue-chip IT firm Asseco Poland ups SPO at market watchdog's request

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Date: 2010-03-11 09:26

CEE's biggest IT firm, blue-chip Asseco Poland has raised the number of series I shares it plans to issue in a new capital increase to 3.88mn (from 3.41mn) as a result of a recommendation of the Financial Supervision Commission (KNF), according to which the company - which holds its treasury shares, should also be a recipient of issue rights, the firm's spokesperson Katarzyna Drewnowska has told news agency ISB.


According to her, Asseco Poland would receive issue rights, but would keep them inactive - neither selling, nor using them. At the same time, the company upheld the plan to terminate the same number of treasury shares, which means that even if issue rights are not used, the firm's stake in its capital would not alter. 

As a result of its merger with Prokom Software, Asseco Poland took over 11.61mn own shares (treasury shares), but later (in December, 2008) sold 1.40mn of them. 

As the company announced earlier, the funds from the share issue are to be spent on acquiring small and medium-size IT firms in Western Europe. The issue price was earlier set at PLN 60 (EUR 15), compared to Wednesday bourse closing price of PLN 57.45 (up by 0.79% on the day). 

Originally, the SPO was due in Q1/2010, but Assecco Poland recently rescheduled it for Q2/2010.

mtd/tom