Tauron to issue non-voting shares and invest more in Brzeszcze

The shareholders at Tauron Polska Energia will decided about issuing so called non-voting shares in order to raise money for "numerous investment projects," most likely for Brzeszcze mine, Puls Biznesu daily reported.

The shareholders will gather on November 9, if they approve the issue, it will be first such issue in WSE history. The company plans to float 80 million shares, totaling PLN 400 million. The State Treasury is to pay for the holding in kind of shares of WSE-listed companies, the daily suggested it could be PGNiG's securities.

Tauron informed earlier that if it wins the tender (it's the only bidder), it will invest some PLN 200 million in Brzeszcze. Regarding the new issue, it may increase its investment expenditures, the daily concluded.