Ipopema opens its brokerage business

Ipopema Securities brokerage house has started offering stock-brokerage services on the Warsaw Stock Exchange (WSE). For the first three years of its existence, the company prepared IPOs, mergers and acquisitions, and rendered corporate financial-advisory services.

"We want to be one of the top-three biggest brokers on the WSE. It will take a big effort but we're sure we can reach this ambitious goal within the next year," said Jacek Lewandowski, CEO of Ipopema Securities.

According to Stanisław Waczkowski, deputy president of Ipopema, the top brokers have a 12-14 percent market share, and Ipopema should reach the double-digit level in 12 months.

Ipopema's strategy is to address institutional rather than individual customers. "We've signed contracts with half of the customers we target. We are already in talks with others," Lewandowski said, adding that the company has so far successfully carried out 20 projects consisting mainly of obtaining capital for companies, but also a big leveraged buy-out.

The brokerage house is currently preparing IPOs for five companies worth from zł.30-zł.150 million. Ipopema's president only named one of those, while the remaining four are from the food and automotive sectors.

"Bakalland, which has already informed the public about its IPO, will most probably debut on the bourse this year. The remaining four companies will debut in the first half of next year," Lewandowski said.

In August this year, a 10-percent stake in Ipopema was taken over by Manchester Securities Corp. The remaining shares are held by Lewandowski.