Betacom files issue prospectus with securities commission KPWiG

Warsaw-based Betacom, specializing in advisory, designing and implementation services for the IT sector, plans to enter the Warsaw Stock Exchange (WSE). "We have already filed our issue prospectus with the Securities and Stock Exchange Commission (KPWiG). We also plan to carry out the first IPO by the end of 2003 and debut on the bourse at the latest in the first quarter of 2004," said Mirosław Załęski, Betacom's President. The company plans to sell 20% of its total share capital to investors and is basically counting on institutional investors. "It is too early to reveal the amount, which we plan to collect from the floor, as we are still conducting talks with financial investors," added Załęski. The money from the share issue would be spent on developing software offers on HRM. In 2002, Betacom had net profits of zł. 1.85 million and revenues amounting to zł. 55 million. (Puls Biznesu, pp. 1, 10) M.M.