Gessel has advised Poland-based paraffin producer Polwax on the public offering of its shares with subscription rights and admission of shares to trading on the Warsaw Stock Exchange. The value of the bonds is estimated at PLN 20 million.
Polwax SA is a producer and distributor of refined, deodorized paraffins, waxes and industrial paraffin products, founded in 1999. The company has been listed on the WSE since 2014.
According to Gessel, “the funds from the issue will be allocated by [Polwax] for partial debt repayment and for the implementation of planned investments, including concentration of paraffin production in the plant in Jaslo.“
Gessel’s team consisted of Partners Krzysztof Marczuk and Leszek Koziorowski, Managing Associate Magdalena Szeplik, and Lawyer Urszula Sleszycka.