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January 24, 2007
Poland's Gadu Gadu Set For IPO
Poland's largest Internet chat provider Gadu-Gadu has set its IPO share price and plans to issue up to 3.71M new shares aiming to raise PLN 75.1M (about €20M) to finance foreign acquisitions and a possible entry into the mobile virtual network operator (MVNO) phone business, reports Interfax, referencing the company's prospectus published Monday. It also said the startup is looking to expand Eastwards, Ukraine and then Russia.
Since we only have limited access to Interfax (the free bits), we couldn't find out what the implied valuation is for Gadu Gadu, or what date in February the IPO is slated for.
There's some good background on the company on the eurotelco blog in a post that said way back in September that Gadu Gadu was going for an IPO. Among other interesting items, it says that Internet users in Poland opted for a homegrown Internet communications platform rather than others, such as MSN Messenger or AIM.
Read - Polish Power (eurotelco blog)
Read - Polish online communicator Gadu-Gadu eyes PLN 75.1 mln in IPO proceeds, foreign expansion(Interfax Central Europe)
Posted on January 24, 2007 04:36 PM | Posted to IPO | News And Updates | VoIP | Permalink
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