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Asseco South Eastern Europe (Asseco SEE) IPO success

The book building process among qualified investors in the Asseco South Eastern Europe IPO ended yesterday. Investors declared demand for shares worth almost PLN 30m. The proceeds are to finance acquisitions, aimed to be executed by years’ end.

Asseco South Eastern Europe informs it successfully ended the book building phase of its IPO on June 24th, 2009. Over the next days qualified investors, who declared their interest are going to place their formal subscription orders and new shares will be allocated. The successful IPO confirms the attention the Company got from investors, who placed declarations to buy new shares for almost PLN 30m. The proceeds are to finance acquisitions, to be executed this year.

After EBRD’s business decision, executed at the end of May this year, the Company decided to offer in parallel part of the new issues to qualified investors. “EBRD financing allows us to execute the most important acquisitions. However, we wanted to offer the qualified investors, our long term capital partners, the possibility of acquiring our shares on similar” – explains Piotr Jeleński, the President of Asseco SEE Management Board. “We are very glad with the results of our IPO. We are especially happy that most of the investors see our business very positively, appreciating the fact we created a strong group being the leader in banking and authentication systems in the region. Our goal was to get additional financing in the amount of approx. EUR 5m. Together with EBRD’s declared EUR 15m equity financing and EUR 7m debt facility it gives us enough financial strength to finalize acquisitions planned for this year. We got a short list of targets, whom we are far advanced in negotiations and due diligence.

The Company plans to float its shares on Warsaw Stock Exchange in July or August this year.


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