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Initial Public Offering

On the basis of the prospectus approved by the Financial Supervision Commission on 18.06.2007 we offered 8,000,000 ordinary shares of series F with a nominal value of 0.25 zł each (the Offer Shares). All offered shares were ordinary bearer shares. The Offer Shares are not privileged. There are no restrictions in the transferability of the Offer Shares. Additional benefit responsibilities are not related with the Offered Shares. 

Series F shares were offered to investors in the following tranches: 
  • Large Investors Tranche (TDI) - 5,600,000 shares; 
  • Tranche of Small Investors (TMI) - 2,400,000 Shares. 
According to Issue Prospectus approved on 18.06.2007, the company intended to introduce to the official stock exchange: 
  • 8,925,736 ordinary bearer shares of series A with a nominal value of 0.25 zł each, 
  • 3,200,132 ordinary bearer series B with a nominal value of 0.25 zł each, 
  • 1,602,132 ordinary bearer shares of series C with a nominal value of 0.25 zł each, 
  • 18,147,724 ordinary bearer shares Series D with a nominal value of 0.25 zł each, 
  • Shares 1,814,772 ordinary bearer series E shares with a nominal value of 0.25 zł each, 
  • not more than 8,000,000 ordinary bearer series F with a nominal value of 0.25 zł each, 
  • not more than 8,000,000 rights to ordinary bearer series F.
Before opening of subscriptions for the Offer Shares in the Large Investors Tranche, the Offeror has conducted the process of book-building. Book-building was carried out from 29 June to 2 July 2007.

Offering of Series F Timetable

  • 22 June 2007 - Opening of the Public Offering is synonymous with the publication of the Company's Prospectus 
  • 27-29 June 2007 - Subscriptions for shares in Tranche of Small Investors 
  • June 29 - July 2, 2007 Bookbuilding for investors in Large Investors Tranche 
  • 2 July 2007 Setting the issue price for the Shares and give it to the public 
  • 3-4 July 2007 Subscriptions for Shares in the Large Investors Tranche 
  • July 2007 Allocation of Shares and closing of the Public Offering 

The Supervisory Board had the right to change the above deadlines, while there was no possibility of shortening the deadline of the subscription for Series F shares.. These terms have not been changed.

The issue price

The issue price of series F shares was determined before the commencement of subscriptions for the Offer Shares in the TDI, based on the book building mechanism and made public in accordance with art. 54 section 3 of the Act on Public Offering, before the start of subscriptions in the Large Investors Tranche. Price Range in bookbuilding was from 4.20 to 5.30 zł zł per Share. The maximum price of the Offer Shares has been set at 5.30 zł per unit. 

The function of the Offeror of Series F Shares was Dom Maklerski BOŚ SA (Warsaw. Marszałkowska 78/80). 

Subscription for series F shares and their allotment.

In terms of the Public Offer, investors could subscribe for series F shares according to the following rules:

  • TMI’s minimum record was 10 pieces of Offer Shares and the maximum record was 20,000 of Offered Shares;
  • TDI’s minimum record (beyond the bookbuilding)  was  20,000 units Offered Shares and a maximum recording was equal to the number of series F shares offered in TDI;
  • In the case of investors who have been placed on initial allotment list, the record could be for a number of shares of less than 20,000 (according to the List initial allocation).
  • The Declaration of interest in the acquisition of Offered Shares investor must indicate the number of no less than 20,000 shares and not more than the number of series F shares offered in the TDI.

Subscriptions for shares in Tranche of Small Investors were adopted after maximum price of 5,30 zł.

Subscriptions for shares in the Large Investors Tranche were accepted at the Issue Price.

 

Number of subscribed shares was 23 272 939, including:

  • Small Investors Tranche: 17 672 939 (the reduction rate 86.42%);
  • Large Investors Tranche: 5 600 000 (no reduction).

As part of the subscription 8 000 000 shares of series F were allocated

 

Number of persons who subscribed for shares is 2 605, including:

  • Small Investors Tranche: 2 510;
  • Large Investors Tranche: 95.

The number of persons to whom shares were allocated is 2 605, including:

  • Small Investors Tranche 2 510;
  • Large Investors Tranche: 95.

The value of subscription of series F shares: 42 400 000.00 zł

 

The first listing of ordinary bearer series F shares was on 11 July 2007. The first listing of MAKRUMs existing emission of A, B, C, D, E and F Series Shares took place on 23 August 2007.

linki:
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