Arena will give all it takes to get zl.200 million from IPO

Internet portal Arena.pl has filed an amended version of its issue prospectus with the Securities and Exchange Commission (KPWiG), increasing the amount of shares it will issue in its initial public offering (IPO) from 40% of its equity to perhaps more than 50%. Arena is looking to obtain zl.200 million from the offering and plans to give up as much stock as it will take to get the desired amount. Witold Grzesiak, member of the managing board of Arena’s owner, CentralEuropa.com, said that his company is not as determined to keep control over Arena as the owners of Interia, the first Polish portal to conduct an IPO, were. “We want to get an amount that will allow us to fulfill our strategic plans. According to our analysis, zl.200 million is such an amount,” he said. Grzesiak stressed that Arena is a different venture than Interia in that it combines an Internet portal with an Internet service provider (ISP). According to him, such a business model for a portal has been proven to be the most successful worldwide. (Puls Biznesu, p.5) T.J.