Onde Warsaw IPO May Raise About 500 Million Zloty, Parkiet Says
Onde Warsaw IPO May Raise About 500 Million Zloty, Parkiet Says
(Bloomberg) --
The initial public offering of Onde SA, a Polish builder of wind and solar farms, could raise about 500 million zloty ($130 million), Parkiet reports, citing a report by Trigon Dom Maklerski SA brokerage.
Trigon analysts estimate the value of Onde, unit of Warsaw-listed Erbud SA, at 1.56 billion zloty to 1.72 billion zloty, the newspaper said. That means that the planned IPO of a 31% stake, which includes new and existing shares, could be priced at as much as 535 million zloty.
The brokerage expects the company’s operating profit will rise to 178 million zloty next year from 41 million zloty in 2020 as Poland’s utilities increase their investments in renewable capacity amid the country’s push to drop coal as its main energy source.
Erbud shares gained 30% since June 13, the day before the share sale was announced. The company is valued at 1.03 billion zloty.
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