Rymarz Zdort supported ENEA (“ENEA”) in connection with a PLN 750 million issue of Series D shares. The company signed nearly 70 subscription agreements concerning a total of 88,288,515 shares at an issue price of PLN 8.50 per share. The State Treasury subscribed for the shares with a total issue value of approximately PLN 422 million; open pension funds subscribed for shares valued at over PLN 246 million; and other investors subscribed for shares valued at approximately PLN 82 million.
ENEA is actively participating in the transformation of the energy sector and develops renewable energy sources. As one of Poland’s largest energy companies, it shares responsibility for the country’s energy security and supplies energy to over 2.7 million customers.
The ENEA Group intends to use the share issue proceeds to make investments in the distribution sector, including by supporting the development of RES and smart grids, which is one of the key directions of its development strategy.
In addition to its support of activities related to the issuance and offering of the shares, Rymarz Zdort advised ENEA on the process of obtaining funds from the Reprivatisation Fund.
“Polish energy companies, like their counterparts in Europe, are increasingly focusing on energy transformation. We are glad that our law firm has once again had the opportunity to participate in a transaction the aim of which, in addition to our client’s investment goal, was to ensure our country’s energy security, which is part of the strategy of the ENEA Group”, says Marek Durski, a partner and the head of the energy and natural resources practice at Rymarz Zdort.
The advisory team comprised Marek Maciąg, a partner in the corporate department; Marek Durski, a partner and the head of energy and natural resources practice; Klaudia Kasztelewicz, associate; Karolina Kłos, associate; and Aleksandra Pustiowska, senior associate.