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Asseco Poland to issue new shares worth $66 mln

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.

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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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