- December 02, 2009
- Suntech SA completes placement
- November 17, 2009
- Suntech signs contract with Vectra
- June 30, 2009
- Foreign contract of Suntech
- April 28, 2009
- HFC Systems chooses Suntech's Network Inventory
- March 10, 2009
- Suntech S.A. signed a cooperation agreement with the Israeli provisioning system producer
News
Suntech SA completes placement December 02, 2009
Warsaw, 2 December 2009
Suntech, a public company, has terminated its sale of a new issue of E-series shares. Investors acquired all 4 million shares with an issued value of PLN2.2 million. The company also secured another contract, this time with Aster.
In accordance with the October resolution of its General Shareholders Meeting, the company finished selling its shares under private placement. It placed 4 million shares, which will constitute the total of 26.8% of the listed shares after registration. The new shareholders include individuals as well as three institutions, with two investors holding more than 5% of the shares. According to Top Consulting SA, the company’s Authorised Advisor from Warsaw, 820,000 shares were acquired under a share issue for the Suntech employees and management board members shortly after the sale commenced. “An aggressive IT systems sales strategy, which Suntech announced in the recent past, has met with understandable interest of the market”, explains Zbigniew Powier¿a, Vice-President of Top Consulting. “Therefore, as a private equity fund, we resolved to become involved in the capital of our client’s enterprise.”
“The purpose of the share issue is to support sales and marketing of the products in the development of which we were investing in the last years”, adds Piotr Saczuk, a shareholder and the Management Board President of Suntech SA. “The Management Board is determined to achieve a return on those investments in the near future”, he adds.
These plans are accompanied by a recently implemented policy to maximise profits. It produced three recent contracts for implementing and licensing the Billing/CRM/Workflow system as well as the Inventory system, i.e. the company’s two flagship products. On Tuesday the company received another order for the expansion of a Network Inventory IT system within the Aster network. A few days earlier the company had announced conclusion of a significant contract for the sale of Billing/CRM/Workflow licences to Vectra, which is one of the country’s largest cable operators. In the recent months Suntech completed a system migration at Warsaw-based Spray SA, a company taken over by Vectra in March.
In line with another of the recently secured contracts, which relates to an operator in Mexico, an implementation project will be launched at the turn of the year. In September Suntech completed implementation of its latest software, which - inter alia - allows a smooth system migration to fourth-generation telephony, at one of Poland’s largest mobile operators.
During the last month the price of the Suntech shares rose by 30%, to approx. PLN0.65 per share.
The new issue of Suntech SA shares will promote its sales expansion in the United States and in Europe. The fast-growing BSS/OSS market is there to be taken. It is estimated that this market is worth approx. US$8 billion per year in the Billing and Network Inventory segment alone. The company has already set up distribution channels. Top Consulting SA acts as Suntech’s authorised advisor.