Asseco Poland to issue new shares worth $66 mln

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WARSAW | Mon Nov 16, 2009 7:49am EST

WARSAW Nov 16 (Reuters) - Asseco Poland ACPP.WA, Eastern Europe's largest software maker, plans to issue 3.1 million new shares worth about 4 percent of its capital in the first quarter of next year, its chief executive said on Monday.

Asseco plans to use the new shares, which would be worth some 180 million zlotys ($66 million), to replace a chunk of the 12 percent stake it holds in itself as a legacy from a merger with rival Prokom Software, which held a stake in Asseco.

The move should allow the company to save a capital gains tax it would have to pay if it were to sell existing shares.

CEO Adam Goral said Asseco hopes to sell all of its own shares worth some $255 million over three years. (Reporting by Adrian Krajewski; Writing by Chris Borowski; Editing by Dan Lalor

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