Telmax plans an expansion

2004-01-08

According to information released by the Polish Press Agency (PAP), the supervisory board of Bydgoszcz-based Telmax, an IT company, has approved the rise of the company's capital by issue of 175,000 to 325,000 new shares. The current capital is divided into 741,256 shares, while the price on the Warsaw Stock Exchange oscillates at around PLN 39 per share. Telmax is to destine the new funds to conduct an investment program within the company. According to unofficial information recently published by Puls Bizensu, several major Polish IT companies are interested in a take-over of Telmax, as it specialises in IT services for the very promising energy sector. According to the same source, two integrators ComputerLand and Ster-Projekt have already submitted their offers to buy the company. In earlier announcements, the latter confirmed that it would spend up to PLN 70m for acquisitions in 2004.