Locked content AIP Seed Capital leaves CallPage investment with 22-fold return

AIP Seed Capital has sold its shares in tech start-up CallPage with a 22-fold return, earning PLN 2.2 million. “The sale of Call Page shares is one of the highest returns from seed investments in Central and Eastern Europe and the highest return received by the fund,” said Dariusz Żuk, founder and C...

Is PLN 103 bln enough to tackle smog in Poland?

Poland claims the unflattering title of the smoggiest country in Europe. While the Government has pledged serious money to fight it, coal standard regulations seem to be counter-productive. And while Poles wait for the heating system subsidies to roll out, millions of outdated, fuming furnaces will ...

Locked content UOKiK approves Porta KMI Romania acquisition

The Office of Competition and Consumer Protection (UOKiK) has approved the acquisition of Porta KMI Romania by Porta KMI Poland, UOKiK revealed on Twitter. The Office received the application on July 4. Porta KMI Poland will take direct control of Porta KMI Romania via an acquisition of its share ca...

Locked content EPP gets approval to buy eight firms – UOKiK

The Office of Competition and Consumer Protection (UOKiK) has approved the acquisition of eight companies (Appel, Braam, Geel, Rood, Sering, Tulp, Zilver, and Zwart) by the Dutch EPP N.V., UOKiK revealed on Twitter. The Office received the application on June 29. EPP will take direct control in thos...

Locked content Herkules buys back 1 mln shares

Herkules shareholders submitted sale offers for a total of 31,511,415 shares of the company, Herkules informed in a statement on Friday. The company planned to buy up to one million of its own shares. It made a proportional reduction and settled agreements for one million shares, which account for 2...

Locked content Unemployment in July down 10.2% y/y – GUS

The number of newly registered unemployed in July fell by 10.2 percent to about 137,800 y/y, according to the Central Statistical Office (GUS). At the same time, this number grew by 14.1 percent in comparison to June. The number of job offers submitted in July was about 130,400, down by 4.8 percent ...

Locked content Ultimate Games plans debut on main WSE market in Q1 2019

Ultimate Games decided to transfer company shares to the main Warsaw Stock Exchange market (WSE) and plans to do it in Q1 2019, the company said.  Speeding up the plans to debut on the WSE results from extending the portfolio of games that will be released in 2018 – 2020, it specified. Current...

Locked content Four million Poles on vacation with travel agencies in H1

About four million Poles went on vacation with travel agencies in H1, about 14 percent more than in H1 2017, Touristic Guarantee Fund informed. About 1.4 million tourists bought charter trips, an increase of  36 percent versus a year ago. In H1 travel agencies concluded 1.3 million contracts with cl...

Locked content Banking sector H1 net profit up 17.1% y/y – KNF

The banking sector recorded an aggregated net profit of PLN 7.84 billion in H1, an increase of 17.1 percent versus a year ago, Financial Supervision Authority (KNF) reported. Net interest income in the same period grew by 8.8 percent y/y to PLN 22.44 billion, and net commission income fell by 2.9 pe...

Locked content R22 unit buys stake in Appchance

R22 unit Vercom signed an agreement to invest in Appchance. Under the agreement, Vercom will acquire 23 percent in Appchance this year. In 2019 it will increase the stake to 39 percent and will have an option to reach 64 percent within three years. The price for 23 percent stake is set at PLN 1.15&#...