Current reports
2012-02-27 22:01:23
Summary of the results of an issue of bonds of Giełda Papierów Wartościowych w Warszawie S.A. (series A and B)
Current Report No. 17/2012
Date: 27.02.2012
Topic: Summary of the results of an issue of bonds of Giełda Papierów Wartościowych w Warszawie S.A. (series A and B)
Legal basis: Article 56.1(2) of the Act on Offering – current and periodic information
Content of the report:
Giełda Papierów Wartościowych w Warszawie S.A. (“Warsaw Stock Exchange”, “WSE” or “Company”) hereby presents information on the completed public offering of: 1,700,000 bearer series A bonds with a par value of PLN 100, carried out without a prospectus, and 750,000 series B bonds with a par value of PLN 100 each, carried out under a prospectus, both series introduced to trading on the regulated market on 20 February 2012.
1. Date of commencement and completion of subscribtion:
The subscription period for institutional investors (series A):
20 December 2011 – 21 December 2011 (11:00).
The subscription period for retail investors (series B):
2 February 2012 – 13 February 2012 (16:00).
2. Date of allocating the securities:
21 December 2011 – allocation of series A bonds.
14 February 2012 – allocation of series B bonds.
3. Number of securities in subscription:
The Offering included 2,450,000 bonds issued by the WSE.
4. Reduction rate:
Retail investors’ subscriptions were reduced by 25% (series B).
5. Number of securities for which subscriptions were submitted:
Institutional investors submitted subscriptions for 8,186,004 bonds (series A).
Retail investors submitted subscriptions for 1,008,335 bonds (series B).
6. Number of securities allocated in subscription:
In this Offering, 2,450,000 bonds of the Company were allocated, of which:
a. 1,700,000 bonds of the Company were allocated to institutional investors (series A);
b. 750,000 bonds of the Company were allocated to retail investors (series B).
7. Price at which the bonds were acquired in the Offering:
a. PLN 100.00 - series A bonds;
b. PLN 100.91 - series B bonds.
8. Number of persons who submitted subscriptions for securities:
24 entities submitted 90 subscriptions for bonds for institutional investors (series A).
1,777 subscriptions for bonds were submitted by retail investors (series B).
According to the subscription rules contained in the Bond Prospectus, Retail Investors could submit only one subscription each with a given member of the Retail Consortium, which did not exclude that they could submit a subscription with more than one member of the Retail Consortium.
9. Number of persons to whom securities were allocated in subscription:
Bonds were allocated to 9 entities who submitted 16 subscriptions for bonds for institutional investors (series A).
Bonds were allocated to persons who submitted 1,777 subscriptions for bonds for retail investors (series B).
10. Names (business names) of the underwriters who acquired securities under the underwriting agreement stating the number of securities they acquired and the actual price of one security unit (issue price after subtracting the fee for acquiring a security unit, in performance of the underwriting agreement as purchased by the underwriter):
No bonds were purchased by underwriters. No underwriting agreement was signed.
11. Value of the subscription understood as the product of the number of securities in the offering and the issue price:
The value of the Offering of the series A bond issue was PLN 170,000,000.
The value of the Offering of the series B bond issue was PLN 75,682,500.
The aggregate value of the Offering of the series A and series B bond issue was PLN 245,682,500.
12. Total estimated specification of costs included in the issue costs while stating the amount of costs by type:
According to the Company, the estimated costs associated with the offering (referred to as the issue costs) amount to about PLN 2.5 million. On account of the lack of a final settlement of the issue costs as of the date of this report, the amount of issue costs has been estimated and added to the issue costs according to the Company’s best knowledge. The Company shall prepare and publish a current report on the final amount of the issue costs, including the costs by type, together with the methods of calculation and presentation in the financial statements after receipt and acceptance of all invoices from the entities involved in preparing and conducting the Offering.
The Company’s costs associated with the offering will be charged to the Company’s operating expenses.
13. Average estimated cost of conducting the sale per security unit under the sale:
According to the Company’s estimates, the average estimated cost of conducting the sale per one bond will amount to approximately PLN 1.02.
The Company shall prepare and publish a current report on the average cost of conducting the sale per bond after receiving and accepting all invoices from the entities involved in preparing and conducting the Offering.
Legal basis:
§ 33.1 of the Regulation of the Minister of Finance of 19 February 2009 on current and periodic information provided by issuers of securities and on conditions under which information required by legal regulations of a third country may be recognised as equivalent.
Signatures of the Warsaw Stock Exchange Representatives:
Ludwik Sobolewski - President of the Management Board
Lidia Adamska - Management Board Member