E-shops storm Warsaw stock exchange
Hoopla.pl sells home appliances, electronics and computers. The company has increased its market share substantially since its creation in 2004 and also has expanded its products. Now it plans takeovers of smaller Internet stores and also rapid investment in infrastructure, marketing and new employees. The costs should be covered by income from selling shares in the company.Management of the company expects to raise 11 mln to 13 mln zloty ($4.13 mln to $4.88 mln) from the stock exchange. The current majority owner, venture capital fund MCI Management, also plans to sell some of its shares in Hoopla.pl.
Another rookie on the Warsaw Stock Exchange this autumn will be Agito.pl, a company which to some extent is a competitor of Hoopla.pl.Agito.pl sells computers, cameras, TV sets and software. The company reported 53 mln zloty ($19.9 mln) in proceeds last year. The company has only 60 employees but will surely have to hire more as its merchandise will soon include music and books. Oponeo.pl, an e-shop selling tires and other car-related items, enjoyed relative success after its stock debut a month ago. The company had just 30 mln zloty ($11.28 mln) and sold shares for 32 mln zloty ($12 mlns).If its Internet followers also prove successful, more and more medium-sized companies will enter the stock exchange.
On August 30 an alternative market was opened on the Warsaw Stock Exchange. It may be compared with London Alternative Investment Market and is targeted at young companies with a relatively high risk. Less bookkeeping and legal requirements are required before entering this market than for the conventional Warsaw market. This will probably draw the attention of medium-sized companies that need funds for investments.