- Energa’s PLN 2.4 billion IPO is the biggest IPO in CEE this year.
- It is the biggest initial public offering in Poland since the IPO of Jastrzębska Spółka Węglowa in July 2011.
- The presence of Poland’s major supplier of power from renewable energy sources on WSE strengthens the RES sector on the trading floor in Warsaw.
Energa SA, Poland’s top three power distributor, has had its IPO on Warsaw Stock Exchange today.
“The presence of another key company of the Polish economy on Warsaw Stock Exchange demonstrates the growing importance of the capital market to the country’s economy. I am positive that the coming year will be as successful for the market and that more private companies will be floated on the exchange, helping us to continue building a capital hub in Warsaw. This is a real challenge for all entities responsible for the development of the market,” said Adam Maciejewski, President of the Management Board of WSE.
The PLN 2.4 billion IPO of Energa SA is the biggest IPO in CEE (Central and Eastern Europe) this year. It is also the biggest initial public offering in Poland since the PLN 5.37 billion IPO of Jastrzębska Spółka Węglowa in July 2011 on WSE.
The public offering of Energa included 141,522,067 shares held by the State Treasury which represent 34.18 percent of the company’s capital. Two tranches were allocated to individual investors. Large individual investors could subscribe for up to 6 thousand Energa shares each. Small individual investors could subscribe for up to 1.5 thousand shares each. The average reduction rate of both individual investor tranches of the Energa IPO was 55.9 percent.
Energa is the 448th company listed on the WSE Main Market and the 20th new listing on the market this year.
Energa Group is one of Poland’s four major energy groups (next to PGE, Tauron and Enea) and has the leading position on the Polish market as measured by the share of electricity generated from renewable energy sources. The core business of the Group includes distribution, generation and trade in electricity. The Group supplies and sells power to more than 2.9 million clients including households and companies. The total electric capacity installed in the Group’s power plants is 1.3 GW, of which 38 percent (0.5 GW) are renewable energy sources (RES).