On 30 June 2010 TAURON Polska Energia S.A. floated on the Warsaw Stock Exchange.
The company floated at PLN 5.13 which is equal to the final sales price in the initial public offering. Tauron capitalization in the first minutes of listing amounted to almost PLN 8.2 billion which makes it one of the largest companies listed on the WSE in this respect.
“This is a very important moment for us. We have become a public company that builds its value for new shareholders. The entire, extremely complicated process of IPO preparation was executed as planned. This was a challenge for all of us and I would like to express my sincere thank you to all those who took part in the process for their involvement”, said Dariusz Lubera, President of the Management Board, Chief Executive Officer at Tauron Polska Energia S.A.
President of the Management Board, Mr. Lubera received from the President of the Warsaw Stock Exchange, Ludwik Sobolewski a statuette of a bull, which is a symbol of good luck during the listing and a certificate confirming that Tauron is now one of the WSE listed companies. During the ceremony that took place in the Trading Room at the WSE, the stock exchange bell rang for Tauron to announce that a new company is listed.
“I would like to refer to the statuette of a bull that we received. It is inseparably connected with the name of our company. Today it has a special meaning. Tauron comes from Latin word Taurus which means “bull” and bulls, as we all know it, are the symbol of a bull market. We hope that now our brand – Tauron Polska Energia – will become such symbol”, said Mr. Lubera.
Numerous guests took part in this important event that was the Tauron float. Those guests included representatives of Tauron, State Treasury – the main shareholder, advisers, and also investors who joined the company after the initial public offering of the Company shares. Mr. Aleksander Grad, the Minister of the State Treasury said he was very glad to see such high level of involvement among Polish individual investors who, as he thought, increasingly appreciate the possibilities connected with the stock exchange. This proves that people trust and believe in the foundations of the company and the development strategy it pursues. The Minister noted that the price has been set at an optimum level both for the Ministry who sold the shares and for the investors. Due to recession in global markets, the first listing did not reflect the actual possibilities of Tauron. Aleksander Grad said he was convinced that Tauron would be appreciated as soon as the market conditions become more stable.
