Wednesday, 4th December 2013, Velenje, Slovenia
First round of Gorenje's equity offering drawn to a close; in the second round, shares will be offered to employees and new shareholders
Tuesday, December 3, 2013 was the last day of the first round Gorenje's equity offering, in which the existing shareholders exercised their priority/pre-emptive right to subscribe the newly issued shares. On December 5, the second round of the capital increase starts, in which the shares will be first offered to the employees; from December 6 to 11, they will be offered to retail Investors in Poland. Institutional investors in Poland and invited investors in Slovenia will be able to subscribe the new shares in the period from December 12 to 17, 2013.
Gorenje has already successfully carried out one capital increase this autumn as Gorenje shares were subscribed by the Japanese Panasonic Corporation with which Gorenje had forged a strategic partnership in production, development, and sales. In the second offering, the existing shareholders are the first to be invited to subscribe new shares, followed by employees and new investors. With this offering, Gorenje can raise up to EUR 45 million of fresh capital. Two thirds of the funds raised will be allocated for deleveraging, and one third will be dedicated to strategic projects.
After the offering which involves 10,440,835 new shares at EUR 4.31 per share, Gorenje is planning to list, presumably by the end of this year, its stock on the Warsaw Stock Exchange, as secondary listing.