eCard's IPO proves to be the financial hit of the year

In the IPO the issue price of each of the seven million shares amounted to zl.2. At the close of trade the price grew to zl.3.70, which is 85% more than in the initial offer. The reduction rate amounted to 89% and the high return was expected by most analysts. The raised funds are to be used by the company to increase its product offer with a network of ATMs and services related to personification of debit cards. "We plant to take over part of already existing ATMs and purchase additional equipment. We want to launch the first ATMs in the middle of next year. There will be 400-600 of them as this is the amount needed to cooperate with any of the banks," said eCards president, Konrad Korobowicz. (Puls Biznesu, p. 10) A.K.