Suntech makes its debut on Warsaw Stock Exchange NewConnect  October 03, 2008

On 2 October this year, Suntech S.A. became the 69th entity to enter the NewConnect market. The company will use the amount of PLN 970,000 raised through its private placement to establish representative offices outside Poland, boost its domestic sales, expand the product offering and intensify marketing activities. The price of the company shares went down by 6.06% on the initial day.

Suntech, a fast-growing provider of software for telecommunications operators, offered 5,000,000 B-series shares, 333,000 C-series shares and 578,220 D-series shares. During the opening ceremony, Ms Lidia Adamska, the Stock Exchange Board Member, welcomed the company as the 69th company among those listed on NewConnect and presented Mr Piotr Saczuk, the Chairman of Suntech S.A., with a memorial statuette.

Expansion into international telecommunications markets is a key feature of the new strategy. To this end, the company has set up an export sales department. Suntech also plans to gradually raise its Polish market share, develop the product offering, and build the Suntech brand image and awareness.