ZAGREB (Croatia), November 20 (SeeNews) – Croatian digital cartographer Geofoto will list at least 25% of its shares on the stock exchange in Zagreb or Warsaw in 2012, Croatian media reported on Friday.
The listing was planned for 2011, but due to the economic crisis it was pushed back to 2012, Geofoto’s owner, Zvonko Biljecki, told business daily Poslovni Dnevnik (www.poslovni.hr).
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Geofoto expects group revenues to rise by an annual 50% to some 170 million kuna ($34.6 million/23.2 million euro) in 2010, Biljecki was quoted as saying.
“We aim to become an European market leader,” he said.
Zagreb-based Geofoto (www.geofoto.hr), set up in 1993, provides photogrammetric, cartographic and cadastral services.
It has units in London, Bolivia's La Paz, Bosnian town Orasje and in the Serbian capital Belgrade. It has subsidiaries in Dubai and in Croatian town Osijek and a sister company, Geofoto International LLC, in Zagreb.
In March 2008, Geofoto acquired a majority stake in Norwegian scanner and software for data conversion producer ProCaptura.
(1 euro=7.3253 Croatian kuna)