2022-01-18 17:46, Oct 2022-01-19 10:20

2022-01-18 17:46

to update
2022-01-19 10:20

PGE and Enea lose after announced stock issuance plans
Photo: Casper Pimple/ / forum

New stock issues announced by Poland’s largest energy companies did not appeal to their shareholders, and therefore prices fell during stock exchange trading.

On Tuesday after the session, PGE reported plans to recapitalize the company by issuing new shares without protective rights and thereby obtaining about PLN 3.2 billion from investors. And on Wednesday morning, before the start of the session, Enea reported a similar scenario, which intends to issue 8,8288,515 shares with the exclusion of subscription rights.

According to the information provided by the companies, the capital acquired will be allocated to new investments, including photovoltaic projects, wind farms, solar energy or low-emissions energy sources in the case of PGE and investments in the distribution area of ​​the Enea Group.

The two companies were losing significantly during Wednesday’s trading. PGE after 9.30 fell by about 10 percent.


This is an attractive move, particularly given the plans to launch NABE’s carbon assets, Which, according to Minister Jacek Sassen, was scheduled to be built at the beginning of this year. Getting rid of the “carbon heavy” was to increase the investment potential of energy companies. According to experts, unexpected emission plans may indicate a delay in the project.

PGE announced that it has already prepared a plan for the specific expenses from the pool that it wants to receive during the release. by company About 1.6 billion PLN will be spent on the development of the distributionAnd About 1.1 billion PLN decarbonization through the development of low-emissions sources, OK. 470 million PLN for the development of renewable energy sources. PGE reported that approximately 0.61 billion PLN Would you like to publish from the new issue To increase the share of cable lines in the medium voltage network. Approximately 0.74 billion PLN will be allocated for the development of remote reading meters, and about 0.26 billion PLN to increase the efficiency of communication operations.

The draft resolution at the Extraordinary General Assembly of shareholders provides for a capital reduction by reducing the nominal value of the shares while simultaneously increasing the capital by issuing Class E shares. The capital will be increased by private placement, excluding subscription rights.

The issue price of Group E shares will be determined by the Board of Directors, taking into account the results of the order book formation process. PGE’s Extraordinary General Assembly was held on March 7.

Enea informed of the plan to issue no more than 88.29 million shares. The case will be directed to selected investors, excluding subscription rights. Funds from this version will be allocated to the expansion and modernization of high and medium voltage networks, the installation of remote reading meters, and the connection of new customers to the network. The company has booked that the new money may not be used to fund coal assets.

An extraordinary general assembly of Enea shareholders is scheduled for March 10.

Of course after 9.30 it fell by more than 8 percent.



source:banker 24
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