|The IPO could be worth as much as $700 million, according to sources|
Courtesy of Energa
Major Polish utility Energa has announced its plan to carry out an initial public offering in the fourth quarter of 2013, depending on market conditions. The State Treasury will offer a 34.18 percent stake in the company (some 141,522,067 shares). No new share issue is planned for the purpose of the IPO.
The value of the IPO may be some $700 million, according to information obtained by Bloomberg News. This would make it the biggest offering on the Warsaw Stock Exchange this year.
JP Morgan and UBS Investment Bank have been appointed global coordinators and joint bookrunners. Dom Maklerski PKO BP will offer the shares. Banco Espirito Santo, BofA Merrill Lynch, Citi, DM PKO BP and UniCredit are also joint bookrunners. Biuro Maklerskie Alior Banku, DM BOŚ, DI BRE Banku and Ipopema Securities are also managers of the offer.
The offering will be directed to individual investors, Polish institutional investors and selected institutional investors.
Energa is one of the biggest vendors of clean energy in Poland. In 2012, 36 percent of renewable energy produced in Poland was sold by the company. Energa’s power plants can produce 1.3 GW of energy. Last year it sold some 28 TWh of electricity.
From Warsaw Business Journal
Energa IPO valued at zł.2.4 billion
Treasury after energy colossus
End of the year rush to WSE
Capital Park reveals details of its IPO
Energy utilities report profits above expectations
Will cabinet reshuffle save PO?
BY Remi Adekoya
What’s next for Jarosław Gowin?
BY Remi Adekoya