The leading domestic IT producer, AAC holding, is reportedly considering an IPO on the Prague Stock Exchange (PSE). The holding holds a 17% market share in 3C (computers, consumer electronics, communication and data processing) in the Czech Republic and a 10% share in Slovakia. AAC's turnover, which stood at CZK 7.1bn (EUR 220m) in 2003, should increase by 20% to CZK 8.5bn (EUR 260m) this year; its net profit is planned to reach CZK 60m (EUR 1.9m) in 2004.
The company said it expects the IPO to take place next year. It intends to raise approx. CZK 300m (EUR 9.2m), mostly to finance its acquisitions on both the domestic and foreign markets (Poland, the Baltic and the Balkan countries were mentioned). The IPO process is however at the very beginning and AAC has not yet discussed a possible listing with PSE officials. It is currently planning to prepare the Investment Memorandum. Source: HN daily
Note that AAC holding is currently the only company planning its listing on the PSE: no IPO has been realized on the market in the past 10 years and a first successful IPO could be a significant trigger for the Czech equity market.
Jan Hájek, Patria Finance