7Bulls moves into property development

According to a statement released by the company, its new strategy "assumes the total reorientation towards property developing activities." Investors welcomed the news, as did the market with the company's share price increasing by 15%. 7Bulls plans to build on land it already owns as well as buying new land for development. The company's supervisory board has also agreed on the purchase of the Warsaw-based property development company Triton Development for zl.1.5 million. The transaction will be finalized when Triton receives a capital injection of zl.60 million. "Several years ago many companies changed their profile to Internet services and now property developing services are popular," said Piort Wisniewski, an analyst with Amerbrokers. (Puls Biznesu, p. 13) E.B.