Warsaw based JC Auto will soon go public

"The issue prospectus is almost ready. We want to present it to the Securities and Stock Exchange Commission (KPWiG) as soon as possible, to enter the bourse in the first half of this year," announced Jerzy Grabowiecki, JC Auto President. Company representatives hope to raise between zł. 30 - 70 million by going public, although the company president maintained that he will retain control over his company. The share issue will be aimed at institutional as well as private investors. The company offering the shares will be the brokerage house of Bank Handlowy. The funds will be primarily used to enter new markets, by offering products to West European car manufacturers and developing its network of Perfect Service car repair centers. By the end of 2004, the company plans to increase its number of Perfect Service outlets from the current number of 21 to 200. (Puls Biznesu, p. 12) A.K.