Tauron Polska Energia S.A. shares offered in initial public offering have been allotted to individual investors through Warsaw Stock Exchange. Due to very high interest in “small size shareholders programme” pursuant to Maximum Allotment principle each investor received 934 shares (after consolidation). Tauron shares will float on the WSE on Wednesday, 30 June 2010.
Individual investors placed 231,052 valid purchase orders (each investor could place only one order). 191,364 investors subscribed for the maximum number of shares they were allowed, i.e. 1,500 shares (after consolidation of nine shares into one).
Pursuant to the decision of the Selling Shareholder, i.e. State Treasury, the final number of shares offered and allotted to individual investors was 205,258,355 (after consolidation) which represented 25% of the final number of the offered shares. Pursuant to the Prospectus this number was increased from the 20% originally planned to be offered to individual investors. The remaining shares, i.e. 615,775,067 (after consolidation) were allotted to Polish and foreign institutional investors.
Based on the final number of shares offered to individual investors and the total number of shares for which individual investors subscribed, the maximum allotment was defined. Each investor received maximum 934 shares. Investors who subscribed for 934 or fewer shares were allotted the number of shares they subscribed for. Investors who subscribed for more than 934 shares (maximum 1,500) pursuant to the above-mentioned Maximum Allotment principle received 934 shares.
The final price of shares for institutional and individual investors in Tauron initial public offering was PLN 5.13 (after consolidation). Investors were allotted consolidated shares. Also, refunds are paid starting today, i.e. the amounts constituting the difference between the maximum price (at which investors subscribed) and the final sales price (at which the shares are sold). Investors who subscribed for more than 934 shares, in addition to the above-mentioned refund, will also receive the amount they paid for shares for which they subscribed but which they were not allotted. Refunds will be paid to the investors’ investment accounts that were used to subscribe for the shares.
Tauron shares are scheduled to float on the WSE on Wednesday, 30 June 2010.
