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Rymarz Zdort Advises Biuro Maklerskie PKO BP on Series E Shares Issuance by PGE

Rymarz Zdort Advises Biuro Maklerskie PKO BP on Series E Shares Issuance by PGE

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Rymarz Zdort has advised global coordinator Powszechna Kasa Oszczednosci Bank Polski Oddzial Biuro Maklerskie on the PLN 3.2 billion issuance of series E shares by PGE Polska Grupa Energetyczna.

According to Rymarz Zdort, approximately 374 million shares were subscribed for at the issue price of PLN 8.55 per share.

Biuro Maklerskie PKO BP is a Polish brokerage house. PGE is a Warsaw-headquartered company, operating in electricity distribution and supply to end customers.

"The State Treasury (the majority shareholder of PGE) subscribed for shares worth over PLN 2.5 billion, open-end pension funds subscribed for shares worth approximately PLN 450 million and other investors subscribed for shares worth approximately PLN 250 million," the firm added. "PGE is planning to spend the proceeds of approximately PLN 3.2 billion from this issuance on investments in three areas: the development of power distribution systems, renewable energy sources, and the decarbonization of power and heat generation processes through the development of low-carbon energy sources."

The Rymarz Zdort team included Partners Marek Maciag and Marek Durski and Associates Klaudia Kasztelewicz and Karolina Stepaniuk.

Rymarz Zdort did not respond to our inquiry on the matter.

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