Shareholders of telco company Hawe approved the issue of up to 100m shares to a strategic investor yesterday. The price was set at PLN 6 per share with an option to decrease the price to PLN 5. According to Mr Falenta, who controls Hawe, the placement should be finalized this year as the negotiations with the investor are in the final stage. The equity from the share issue will be used to conclude the TK Telekom acquisition.
Guidance on the share issue price was provided earlier this month, thus the more interesting information for Poland’s telco market would have been the name of the investor. The press speculates that parties interested in Hawe include Carlos Slim’s America Movil, and Mr Solorz Żak. The setting of the range of the offer price above the market is supportive for the future stock price, although the lack of details regarding the name of the strategic investor means the news is neutral for the sector.