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The Warsaw Voice » Business » November 5, 2008
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EBC Solicitors Grows Business
November 5, 2008   
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Warsaw law firm EBC Solicitors, which became an "authorized advisor" for the Warsaw Stock Exchange's alternative market NewConnect just a year ago, is reporting rapid growth in its sales and orders, making it a leading provider of legal advice on the market.

During its first year as an authorized advisor on NewConnect, the firm handled the debuts of four companies and saw its own sales grow by more than 100 percent compared with 2007. The firm's net sales in the first half of this year totaled zl.640,000 and exceeded the figure for the whole of last year. By the end of this year, the firm expects its sales to reach zl.1.4 million.

Today the firm's client base comprises 20-25 companies, four of them listed on NewConnect.

The rapid growth of EBC Solicitors' sales was already visible in the fourth quarter of last year, after the firm secured the status of an authorized advisor on NewConnect.

EBC Solicitors has handled the following transactions on the Warsaw Stock Exchange's alternative market: a merger between IQ Partners sp. z o.o. and IFA Investments sp. z o.o. by way of setting up IQ Partners SA; introducing IQ Partners SA onto the NewConnect market (as an Authorized Advisor); handling an increase in the share capital of Liberty Group SA and e-Muzyka SA companies and providing legal advice to these companies during their entry on NewConnect; and handling an increase in the share capital of Zakupy.com SA. Today the firm continues to provide these companies with legal advice.

The firm's 2007 net sales totaled zl.581,900. In the first half of 2008, contracts involving legal advice provided to companies listed on the NewConnect market allowed EBC Solicitors to make a quantum leap in net sales to more than zl.640,000.

The firm expects to report zl.1.4 million in net sales by the end of the year, being determined to further consolidate its position as a leading provider of consulting services for the NewConnect market next year, with an about 35 percent growth in sales, to zl.2 million.

The strategy of EBC Solicitors for 2009 is to concentrate on handling mergers and acquisitions of small and medium-sized businesses as well as helping them raise funds, with a special focus on raising funds by way of entering the NewConnect market.

"We plan to offer our clients all possible assistance in preparing their NewConnect listings, including the services of experts in other fields who work with us on a regular basis," says Adam Osiński, a partner at EBC Solicitors. "EBC Solicitors wants to be a major market player and a professional legal advisor that knows and understands the needs of businesses."

The firm specializes in transformations, mergers and spin-offs involving commercial companies. It also handles merger-and-acquisition transactions and fundraising processes, especially those involving securities issues, and helps introduce companies to stock exchange trading.

Despite the hard times on the Warsaw Stock Exchange recently, the prospects for the legal services sector are optimistic. The market is expected to grow at a rate of 30-40 percent annually.
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