Greenberg Traurig has advised Onde S.A. on its IPO and shares admission to trading on the regulated market operated by the Warsaw Stock Exchange.
According to Greenberg Traurig, Onde is an infrastructure contractor for the renewable energy sector, in particular wind and solar PV farms in Poland. “The total value of the IPO was PLN 444.5 million, making it the second largest IPO in Poland this year. The offering attracted high interest, with all the offered shares sold at the maximum price, indicating Onde’s valuation at PLN 1.43 billion. As part of the IPO process, Onde will raise PLN 214.5 million gross from the issue of new shares. These funds will be used mainly to acquire new wind and photovoltaic farm projects that the company will build in a build and sell system and to finance the construction of renewable energy projects already purchased by Onde.”
Greenberg Traurig’s team included Partner Rafal Sienski and Associates Michal Baldowski, Grzegorz Socha, and Jakub Tarlowski.