Ukrainian company Coal Energy starts trading in Warsaw
Coal Energy unites coal assets of scientific-production association Mekhanik
KYIV, August 4, 2011 (UBO) – At the Warsaw Stock Exchange (WSE) trading started on the stocks of Ukrainian company Coal Energy, the Dragon Capital investment company statement said, UkrInform reported. Coal Energy offered 25 percent of stocks during IPO on the WSE main floor and got USD 81.4 million of new joint stock capital. Dragon Capital stood as lead manager of the offering under the auspices of Polish Dom Maklerski BZ WBK.
As the investment company underscores, the attracted amount makes the Coal Energy transaction as the largest IPO of theUkrainian company at the Warsaw Stock Exchange since July 2008 and the second by the volume of attracted funds over the whole history of Ukrainian companies’ offering at the WSE.
In early July, Coal Energy informed about its plans to raise USD 130 million at IPO at the WSE. Later, the company has worsened its forecast for raising the funds from the primary public offering of stocks at the Warsaw Stock Exchange to USD 78.523 million.
Coal Energy unites coal assets of scientific-production association Mekhanik (Donetsk region) and is the third private company of Ukraine by the amount of stocks (235.5 million tons as proved stocks). The company controls 10 mines, as well as capacities for enrichment and processing of colliery wastes. It exports its products to Bulgaria, Slovakia, Moldova, and recently - to Turkey.