Global law firm White & Case LLP has advised a banking syndicate, acting as the managers of the offer, on CCC S.A.’s offering by way of private subscription of new series M ordinary bearer shares and new series L ordinary registered shares in an accelerated book-building (ABB) process valued at more than PLN 505 million.
The offer included the sale of 5.88 million series L shares and 8.12 million series M shares at a fixed price of PLN 36.11 per share. Both Polish and foreign investors demand for shares far exceeded the issue of 14 million new shares. The company is planning to allocate the funds raised from the share issue to working capital and its financing structure in the context of high interest rates and CCC’s effort to reduce debt.
The managers of the offer included the following banks: PKO BP S.A. Oddział – Biuro Maklerskie w Warszawie and mBank S.A, acting as the co-offering agents, Santander Bank Polska S.A. – Santander Biuro Maklerskie, Pekao Investment Banking S.A., Bank Handlowy w Warszawie S.A. – Departament Maklerski Banku Handlowego and Citigroup Global Markets Europe AG, which together with the co-offering agents are acting as the global coordinators, and Bank Pekao S.A. – Biuro Maklerskie Pekao, Trigon Dom Maklerski S.A. and BNP PARIBAS.
CCC is one of the largest European companies in the footwear sector, with approximately 90 e-commerce platforms and 950 stores in 28 countries under the CCC, eobuwie.pl, Modivo and DeeZee brands. CCC S.A. has been listed on the Warsaw Stock Exchange since 2004.
The White & Case team in Warsaw which advised on the transaction included partners Marcin Studniarek and Rafał Kamiński, local partner Monika Dużyńska, and associate Damian Lubocki.