White & Case has advised a syndicate of banks on CCC’s over PLN 505 million offer of series M ordinary bearer shares and new series L ordinary registered shares in an accelerated book-building process. Greenberg Traurig reportedly advised CCC.
According to White & Case, "the managers of the offer included PKO BP and mBank, acting as the co-offering agents, Santander Bank Polska – Santander Biuro Maklerskie, Pekao Investment Banking, Bank Handlowy w Warszawie – Department Maklerski Banku Handlowego, and Citigroup Global Markets Europe, which together with the co-offering agents are acting as the global coordinators, and Bank Pekao – Biuro Maklerskie Pekao, Trigon Dom Maklerski, and BNP Paribas."
"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," White & Case informed. "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."
CCC is a Warsaw Stock Exchange-listed company that specializes 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.
The White & Case team included Partners Marcin Studniarek and Rafal Kaminski, Local Partner Monika Duzynska, and Associate Damian Lubocki.
Editor's Note: After this article was published, Greenberg Traurig confirmed it had advised CCC. The firm's team was led by Partner Rafal Sienski and included Senior Associates Grzegorz Socha and Michal Baldowski, Associate Lukasz Chmura, and Junior Associates Szymon Swierszcz and Natalia Potrubacz.