Leading hardware company Action plans IPO for early 2005

Initially, the IPO was planned for early next year but, "We had to reorganize the enterprise and the capital group," said Andrzej Biały, financial director of Action. The firm recently purchased a majority stake in a competitor, California Computer, and opened an outlet in Ukraine. Additionally, the company made changes to its accounting methods and now it consolidates the results of all of its subsidiaries. "We have decided not to disclose the details of the offer under way. We do not have full plans concerning the share issue and due to this reason I do not want to talk about it," said Biały. In 2003 Action had revenues of zł.1.1 billion, while its whole capital group generated sales of zł.1.9 billion (Parkiet, p. 7) M.M.