Nanotel listed on NewConnect

2010-08-02

Nanotel, a provider of construction services for the telecommunications industry and heat pump systems, made its debut on NewConnect stock market on 30 July.
The company raised approx. PLN 1m (€256,410) in a private placement; the funds are to be used to expand the company's offering and upgrade Nanotel's plant and equipment. The company's business includes the design and construction of telecommunications and data transmission networks. Nanotel also develops fibre optic, copper and CATV networks and repairs infrastructure.
Based on this year's projections, Nanotel will record a PLN 200,000 (€51,282) net profit on revenue of PLN 2.3m (€589,743) in 2010. In 2009, the company posted a PLN 300,000 (€76,923) net loss on revenue of PLN 1.8m (€461,538).

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