BPSC busy with eastward expansion, IPO

The value of the share issue will stand at zl.20-25 million, with half of this amount to be collected by a venture fund from the SEAF Group, which invested in the company in 1992 and currently controls 63% of the firm. "The date of the IPO depends on the situation on the bourse. We want to give investors an exceptionally convincing reason to come to us," said Franciszek Szweda, deputy president of BPSC. This reason would be external expansion, which currently concerns Lithuania and Belarus. On Wednesday, the company concluded negotiations concerning an acquisition in Ukraine. "We plan to purchase a company which started operating on the market at the end of the 90's. It is partially present on the Russian market. Its product would supplement our offer in terms of financial-accounting areas, which are very country-specific," said Szweda. (Puls Biznesu, pp.1, 8) M.M.