7bulls.com switches from IT to real estate

Three years after changing its business profile, IT company 7bulls.com is considering shifting into the real estate sector. The firm has already disposed of most of its IT sector assets and has virtually abandoned that market. The company has signed a contract to construct a luxury housing estate on its land near Warsaw together with local developer Kampa-Polska. 7bulls.com begun trading in 1998 under the name of AS Motors and sold Iveco trucks only to later turn to the IT sector in 2000. It subsequently sold its vehicle dealership and after the failure of its IT unit, was left with zł. 40 million in unpaid debts. On Thursday, 7bulls.com's shares rose by 11.9% to zł. 1.60, giving the company capitalization of just over zł. 20 million. (Parkiet, p. 2) J.K.