SM-Media receives a zl. 3 million cash boost to help win over customers
Raiffeisein Bank Polska conducted the first zl. 3 million debt bonds issue
for Polish internet provider SM-Media which has already been purchased by a
number of selected investors. SM-Media is one of the largest internet
providers in Poland and with a 1.5% domestic market share ranks seventh out
of a hundred companies. The issue is aimed at helping SM-Media acquire the
customer base of its two biggest competitors. In the long run, the company
plans to consolidate the Polish IT sector by creating a capital group. In an
upcoming meeting, the company is to decide on whether to turn SM-Media into
a stock company. The management board does not rule out the possibility of
an initial public offering and listing on the Warsaw Stock Exchange (WSE)
by mid 2001. At the end of 1999, SM-Media had 4,000 customers, 80% of which
were business and institutions, and netted over zl. 25 million. (Puls
Biznesu, page 4) P.S.
