Exact Systems prepares IPO

Exact Systems, part of the Work Service group, has submitted a prospectus to the Polish Financial Supervision Authority (KNF). It plans to make a public offer and debut on the WSE. Exact Systems is one of the largest firms in the quality control sector for automotive parts produced in Europe and the sector leader in Poland. “We believe that this is the right time to take the next major step in the development of Exact Systems through floating shares in our company on the Warsaw Stock Exchange. The planned raising of capital will help with consolidation, intensive development in currently serviced markets, and expansion of our territorial reach through acquisitions in new markets,” said Paweł Gos, president of Exact Systems. In the first half of 2016, Exact Systems performed quality control of 524 mln parts, which represents a 22 percent y/y increase. The group's sales revenues reached PLN 138 mln, and achieved a net profit of PLN 12.9 mln.