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The Warsaw Voice » Business » December 2, 2009
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Asseco SEE Enters WSE
December 2, 2009   
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Asseco South Eastern Europe, part of the Asseco corporation, hit the Warsaw Stock Exchange Oct. 28 after selling 2.1 million shares in an initial public offering.

The IPO was addressed to qualified investors, and the company raised almost zl.30 million by selling 2.1 million L-series shares each with an issue price of zl.14.

Asseco SEE has also obtained 15 million euros from the European Bank for Reconstruction and Development (EBRD) after issuing a further 4,810,800 M-series shares. The European Bank for Reconstruction and Development has undertaken to open a credit line of 7 million euros for Asseco SEE. In all, Asseco SEE has raised over 28 million euros. It plans to spend all the funds on the acquisition of other companies.

The company's first acquisitions in the region are scheduled to take place later this year. In the near future, Asseco SEE plans to acquire four companies that it says are complementary to one another in terms of product range and location and operate in Romania, Croatia, Bosnia and Herzegovina, Kosovo, Albania, and Turkey.

"The current situation on the market encourages many companies to work with us and sell a controlling stake," said Piotr Jeleński, CEO of Asseco SEE.

Asseco SEE is the fourth company of the Asseco group to be listed on the Warsaw Stock Exchange. The other three are Asseco Poland (ACP), Asseco Slovakia (ACS), and Asseco Business Solutions (ABS).
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