Following the completion of the accelerated book building (ABB) for new issue shares, CCC has decided to make offers to investors to take up all the 14 million shares offered at a price of PLN 36.11 per share, the company said. Demand exceeded the number of offered shares several times, Vice President for Development, Customer and Digital Karol Półtorak said.
“The company’s Board of Directors, after completing the accelerated book-building process for L shares and M shares on April 20, 2023, determined that the company will make offers to investors to subscribe for a total of 14,000,000 new issue shares, including:
(i) 5,878,535 series L shares; and
(ii) 8,121,465 series M shares,” the announcement read.
The new issue included series M ordinary bearer shares and series L registered ordinary shares.
Ultro’s offer to subscribe for the new issue shares will be made after the company’s supervisory board approves the transaction with a related party under the provisions of the Act on Public Offering and the Conditions for Introducing Financial Instruments to the Organized Trading System and on Public Companies of July 29, 2005, as amended, it also indicated.
“Demand exceeded the number of shares offered several times. This confirms to us that shareholders and investors appreciate the transformation we have undergone in recent years and have a positive view of our future prospects,” Semtorak said.
CCC Group announced a plan to issue shares in the fall of 2022. It is an instrument to support the company’s broad plan to change its financing structure in response to the challenges of the business environment of the past three years, the material highlighted.
In addition to the new share issue, numerous actions taken by the group also include, among others, the sale and leaseback of warehouse space combined with the refinancing of other liabilities, or an increase in the reverse factoring line, the company reported.
Earlier, the company reported that Ultro – CCC’s largest shareholder – made a declaration to participate in the public offering of the company’s new issue shares and subscribe for min. 5,365,657 shares at PLN 36.11 apiece.
The CCC Group is the leader of the Polish footwear retail market and one of the largest footwear manufacturers in Poland. The company has been listed on the Warsaw Stock Exchange since 2004. Consolidated sales revenues reached PLN 9,123.2 million in FY2022.
Source: CCC and ISBnews
