WARSAW – 10 May 2023 – Greenberg Traurig represented CCC S.A. (listed on the Warsaw Stock Exchange, one of the largest shoe companies in Europe) in the process of issuing and offering 14 million new shares, allowing CCC S.A. to raise more than PLN 500 million.
CCC S.A. offered investors a total of 14 million shares of the new issue, including 8,121,465 Series M ordinary bearer shares, which will be listed on the WSE immediately, and 5,878,535 Series L ordinary registered shares, which will be listed on the WSE after 12 months from the date of listing of the Series M shares. Ultro S.a.r.l., an entity controlled by Mr Dariusz Miłek, subscribed for all the Series L shares, thus increasing its previous share of the total number of votes at the General Meeting of CCC S.A., while the other investors entitled to participate in the offer subscribed for all the Series M shares.
CCC S.A. has announced an intention to issue shares in autumn 2022 as one of the instruments to support the CCC Group's plan to change its financing structure in response to the challenges of the business environment over the last three years. The funds raised from the share issue of CCC S.A. are expected to be an important element in optimising the financing structure and also provide a hedge against possible further challenges in the business environment.
The shares of CCC S.A. were issued by way of a public offering exempt from the obligation to publish a prospectus. Greenberg Traurig provided comprehensive legal assistance to CCC S.A. in the implementation of the transaction, from determining the legal structure of the issue and preparing the transaction documentation to advising on the conclusion of the placement agreement with the financial institutions involved in the share offering and the conclusion of the subscription agreements with the investors taking up shares in the new issue.
The Greenberg Traurig team was led by Rafał Sieński, Partner and Co-Head of the Capital Markets Practice. The team also included Senior Associate Grzegorz Socha and Senior Associate Michał Bałdowski, supported by Associate Łukasz Chmura, Junior Associate Szymon Świerszcz and Natalia Potrubacz.
“It is a real pleasure to congratulate our client on another important transaction completed in an environment of market uncertainty. The successful placement of the new shares confirms investor confidence in the potential of CCC Group and underlines the importance of the capital markets as an alternative to debt financing in the current environment of increased interest rates,” said Rafał Sieński, Partner and Co-Head of the Capital Markets Practice.
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