Columbus Energy SA shareholders will decide to issue series F shares with the exclusion of subscription rights. According to the estimates of the Columbus management board, a positive decision of the shareholders will allow the company to obtain as much as PLN 450-550 million and apply for the introduction of shares on the main market of the Stock Exchange.
The issue of series F shares and IPO is one of the scenarios for obtaining financing considered by the management board of a company listed on the NewConnect stock exchange.
– The last quarters have been a period of very dynamic development of our business. New segments such as heat pumps, photovoltaic farms and electromobility are gradually increasing their share in the company’s offer and revenues. Further dynamic development requires specific expenditure, therefore we consider various financing scenarios, and IPO is one of them – says Dawid Zieliński, president of Columbus Energy SA
– The agenda of the next general meeting provides for an item regarding the issue of shares and admitting the company’s shares to trading on the regulated market of the WSE, but the final decision will be made by the company’s shareholders at the Extraordinary General Meeting of Shareholders. Similarly, when it comes to the issue price, we will consider various scenarios, but certainly not less than the capital market valuation, internal company valuation and, of course, the valuation of target investors – adds Dawid Zieliński.
An extraordinary general meeting of shareholders, at which decisions are to be made regarding the issue of a new series of shares, will be held on December 13 this year.
In total, in the first three quarters of 2021, Columbus Energy generated PLN 508.31 million in revenues, which is a better result than that generated in the corresponding period of last year (PLN 468.13 million).
Including only in the last quarter, Columbus Energy generated PLN 172.45 million in revenues, compared to revenues of PLN 213.22 million in the same period last year.
In the first three quarters of 2021, Columbus had a net profit of PLN 13.15 million, while in the corresponding period of last year its profit amounted to PLN 47.94 million.
Only in the third quarter, the company had a net loss of PLN 2.97 million, while a year ago it generated a profit of PLN 24.42 million.
In the first three quarters of 2021, Columbus completed over 15,000 jobs. photovoltaic micro-installations. As a result, the number of customers who have solar farms from Columbus increased to 48.5 thousand.
The company managed by Dawid Zieliński is also developing a portfolio of ground-based photovoltaic farms. So far, Columbus has commissioned 44 MW PV farms and is in the process of building a 163 MW plant.
The entire portfolio of Columbus’ projects is to reach 5.27 GW, of which conditions have been obtained for projects with a capacity of 1.58 GW or applications for connection conditions have been submitted.
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