Iberia Motor Capital Group moves into top gear

Krystian Poloczek, founder and owner of automotive conglomerate Iberia Motor Capital Group, is aiming at getting his enterprise listed on the Warsaw bourse. "We are working on a new project directly related to the automotive sector. By the end of the year advisers are to present an analysis of opportunities of financing it with proceeds raised from an IPO. The new entity would debut on the bourse in 2009," said Poloczek. He went on to say that the firm might also consider an IPO in London, which offers more opportunities for newly established ventures. "We already have 11 dealers [in Russia]. In 2007 we will try to sell 500 cars there," said Poloczek. The firm has much better results in Ukraine where it sells up to 2,000 cars each year and assembles 21,000 vehicles each year with a plan to boost this figure to 35,000 in 2007. Krystian Poloczek is also involved in the activities of Ukrainian Financial Company, which hopes to win a bank license and establish a financial institution similar to Volkswagen Bank. (Puls Biznesu, pp. 1, 13) M.M.