White & Case has advised Polenergia on its over PLN 1 billion public offering of AA series shares.
Polenergia is Poland’s largest privately held, vertically integrated energy group.
According to White & Case, “a total of 21,358,699 new ordinary bearer shares will be issued which, at a fixed price of PLN 47 per share, will allow Polenergia to raise more than PLN 1 billion. Approximately 24% of the shares were offered to Mansa Investments and around 51% to Brookfield Renewable Partners. The remaining shares were offered to other investors.”
According to the firm, “the proceeds will be used for the development and construction of zero-emission energy sources including offshore wind projects, onshore wind farms, and photovoltaic farms, the development of electromobility, development and acquisitions in selected business areas, and the repayment of a short term loan to finance onshore wind farms.”
White & Case’s team in Warsaw included Partner Rafal Kaminski and Associates Monika Duzynska and Michal Truszczynski.