Investors encouraged by news of merger between Hoga.pl and Wasko

After a year spent on analyses Wojciech Wajda, the owner of Wasko and the majority shareholder of Hoga, has decided to merge the two companies. Formally it is Hoga that will take over Wasko and will issue 87.18 million new shares. "We will soon apply to the court to appoint a certified accountant to examine the merger plan of the two companies," revealed a member of Wasko board Tomasz Kosobucki. "We would like to operate as a merged entity from the beginning of Q4 this year," declared Kosobucki. The capitalisation of the new company will exceed zł.400 million which will put it among the largest IT companies on the Warsaw bourse such as Comarch with a market value of zl.560 million and Emax with zł.550 million. Investors responded enthusiastically to the news of the merger and the price of Hoga shares increased by 11.32% on yesterday. (Parkiet, p. 2) E.B.