Kulczyk sells over 15% of Polenergia

Mansa Investments, controlled by Kulczyk Investments sold 7 million shares of Polenergia (15.4 percent) at a price of PLN 27 per share. The value of the transaction stood at PLN 189 million, according to a press release. The sale was conducted through accelerated book building and demand outpaced the supply of shares according to Mansa. The sale of shares increased the amount of free float thus diversifying market capitalization. Mansa will continue to own over 50 percent of the firm, the press release read. "We have taken the decision to sell part of Polenergia shares to increase the free float and unlock the growth potential of the company, to the benefit of all its shareholders. The transaction was a success and the offer was met with great interest. As Kulczyk Investments we believe in the continued development of the company and we remain a majority shareholder of Polenergia, which is a strategic asset of our Group," said Sebastian Kulczyk, CEO of Kulczyk Investments. Polenergia is a Polish company in the field of development, construction and management of wind farms and supplying biomass fuel.