Global law firm White & Case LLP has advised Pekao Investment Banking as global coordinator and joint bookrunner, and Bank Polska Kasa Opieki S.A. – Biuro Maklerskie as joint bookrunner, on the PLN 750 million issue of Series D shares by ENEA.
ENEA issued nearly 88.3 million shares at an issue price of PLN 8.50 per share. Poland’s State Treasury subscribed for shares with a total issue value of approximately PLN 422 million, open pension funds subscribed for shares valued at more than PLN 246 million and other investors subscribed for shares valued at approximately PLN 82 million.
ENEA, which is actively participating in the transformation of the energy sector and develops renewable energy sources in Poland, intends to use the share issue proceeds to make investments in the distribution sector, including supporting the development of renewable energy sources and smart grids, which are key aspects of its development strategy.
The White & Case team in Warsaw which advised on the transaction included partner Marcin Studniarek, local partner Bartosz Smardzewski and associates Adam Marszałek, Dawid Książek and Karolina Niedzielska.