Point Group goes public via acquiring Arksteel

"We want to become a public company, float new shares and so raise funds for further development," said Pawel Hordynski, financial director of Point Group.Following the merger the new entity will be controlled by Michal Lisiecki, president of Point Group who owns a 68% stake in the company. According to current plans the company will issue shares in the first half of 2007. "The value of the issue depends on the price of shares. We are looking at an amount exceeding zl.20 million," said Hordynski. The capital will be designated for investments and Media Group has ambitious plans, as in H1 it plans to launch a radio, internet television and portal "Machina", based on its flagship product. "We are also considering international expansion. We want to reach beyond our 40-million strong market, as it is too small to produce the results we are looking for," said Lisiecki. (Puls Biznesu, p.12) M.M.