Photon Energy's intention is to transfer shares from NewConnect to the regulated market of the Warsaw Stock Exchange. The company also intends to enter the main trading floor in the Czech Republic, that means the Prague Stock Exchange, changing the trading market with Free Market. In addition, Photon Energy shares will be listed on the Frankfurt Quotation Board, which will allow investors in the eurozone to buy the company's assets without bearing currency risk. Changing markets and entering the new trading floor will not be accompanied by an issue of shares.
“The presence of Photon Energy on the NewConnect market paved the way for us to capital markets, and was also an impulse for the development of our integrated business model and expansion of the photovoltaic power plant portfolio on the European and Australian markets. In addition, we have gained greater recognition in Poland. Over the past years, we've been developing consistently, strengthening business and operations. We believe that the main market of the Warsaw Stock Exchange will be an appropriate place to continue expansion, also in the context of the dynamically developing photovoltaic sector in Poland,” Georg Hotar, CEO of Photon Energy, said.
Changing markets will not be accompanied by an issue of shares. Photon Energy has the funds provided for development in the coming years. Last year, the company secured long-term bank financing for 15 years worth €28.3 million for 46 projects in Hungary with a total capacity of 31.5 MWp. Also in 2019, the company successfully placed five-year bonds worth €37.5 million and a 7.75 percent coupon, listed on the Frankfurt Stock Exchange.