Wasko puts off its IPO

2007-06-01

The IT company Wasko has decided to postpone the share issue scheduled for the second half of 2007. The issue, which might have been worth as much as PLN 100m (€26.3m), will eventually take place in 2008.
The firm says that the planned investments can be funded from the company’s own assets, whereas the larger projects, which were to have been be paid for with funds raised in the share issue, are not sufficiently advanced and the money is not yet required. Wasko plans to pay shareholder dividends for 2006, as it made over PLN 13m (€3.4m). The dividend policy of the company envisages the payment of up to 30% of the annual net profit as dividends. If the general meeting of shareholders approves the dividend, it should be paid by the end of July.

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