Polish energy company Polenergia is launching a public offering of shares aiming to raise PLN1007m (€220m), which will be mainly used for the development of offshore wind farms and other renewables projects.
The price of one newly issued share will be PLN47, with up to 21,426,807 shares to be offered from 31 January.
The funds raised will also be used for the development of onshore wind and solar farms, electromobility, development and acquisition activities in selected business areas, and repayment of a short-term loan intended for the financing of onshore wind farms.
Polenergia said it expects that the full use of the funds raised will take place within one year of the transfer of funds from the contributions from the offering.
It added that an announcement will be made on 9 February of the number of shares for which subscriptions were submitted as part of basic subscriptions and about the number of shares available as part of additional subscriptions.
Allocation of the offered shares will take place on 17 February, with the first day of listing on Warsaw Stock Exchange set to be 2 March.