Altus TFI plans acquisition this year

Investment fund manager Altus TFI would like to take over a market peer with PLN 3-5 billion in assets before the end of this year, the company’s CEO Piotr Osiecki was quoted as saying by ISBnews. “We may even spend all of our IPO proceeds on this deal,” Osiecki said at a press conference on Friday. He added that the company is in talks with less than five potential takeover targets. Altus TFI debuted on the Warsaw Stock Exchange on Friday. It raised PLN 141.36 million from a new share issue in the IPO and another PLN 19 million was generated from the sale of existing shares. The European Bank for Reconstruction and Development acquired between 5-10 percent in the firm in the IPO.