K2 Internet S.A. IPO at the WSE.
K2 Internet S.A., a provider of the innovative marketing , sales and customer service solutions, will have its IPO at the WSE, 24 April 2008. The company will be the very first of that sort to be quoted at the main floor.
The issue price was set at PLN 25. Investors had made 126 subscriptions for 588,523 shares worth PLN 14,7 mln. By taking all of the new issues of securities K2 Internet S.A. has gained PLN 8,25 mln for further dynamic development cofinancing.
-“Debut is an optimistic event for us. Now, we are joining the prestigious group of companies listed at the main floor. The funds generated by the offering will help us create a unique organization, capable of executing large and innovative interactive projects in marketing, sales and on-line client services. I strongly believe that carefully chosen investments, followed by proper strategy – comprehensive and convergent with the dynamically developing interactive marketing tendencies – will enable K2 fast progress and strengthen the position on the market.” – says Janusz Żebrowski, president of the Management Board of K2 Internet S.A..
The K2 Internet public offer enclosed 750 000 shares: 330 000 H Series shares of the new issue and 420 000 A, B, C, D, E and F Series shares, available for the previous holders.
The Polish market, with K2 Internet S.A., is currently at the dynamic growth phase. Such a condition, according to the company, will last for a few years at least, because the market is at the initial ripening phase – before the consolidation phase. For example: the growth of on-line advertising market, including interactive services, which is the field of K2 Internet interest, has noted over 40% growth in Poland last year (K2 estimations), and 55% in 2006. USA and Eastern European tendencies suggest the growing trend to maintain, and traditional media to be replaced with the new ones.
The main shareholders of K2 Internet S.A. are the company founders and venture capital bmp AG fund. The first six months of 2007 have brought ca PLN 11 mln profit (69% increase to the previous year) and PLN 0,7 mln net profit (6% increase). Currently K2 group employs over 220 people. Together with the board, K2 Internet S.A. shareholders are the company employees, as they create the company’s character.