The Wrocław-based IT company TETA has filed a prospectus with the Polish Securities and Exchange Commission (KPWiG). The company intends to conduct a public offering of shares and debut on the Warsaw Stock Exchange in the fourth quarter of this year.
TETA’s dynamic growth has led the company to seek funds for further investments on the public market.
– The company’s goal is to capture a 30 percent share in the segment of software supporting the management of medium-sized enterprises (ERP). We believe that entering the public market will increase the company’s credibility and transparency, as well as allow for the diversification of funding sources. This, in turn, will translate into even faster development for TETA – emphasizes Jerzy Krawczyk, CEO of TETA SA. The funds raised from the public share offering (PLN 5-7 million) will be allocated to the development of software for medium and large enterprises. Currently, TETA’s key goal is to create and launch a new product – an enterprise management system written in .NET technology – TETA Constellation – We believe this software will revolutionize the market – says Jerzy Krawczyk. The market launch of the first TETA Constellation modules is planned for the third quarter of this year.
This year, with sales revenues at the level of PLN 36 million (a 10 percent increase), TETA intends to generate PLN 4.8 million in net profit (a 40 percent increase). In the following years, the company plans an average annual net profit growth of 30 percent.