Alior Bank with support of PZU successfully carried out PLN 2.2 billion share issue. Foreign investors bought over PLN 660 million worth of Alior Bank shares.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION
Alior Bank carried out the largest rights issue on the Warsaw Stock Exchange in over six years, meeting very strong interest from foreign investors. The new-issue shares, worth a total of PLN 2.2 billion, went to nearly 4000 investors from 37 countries. The offering attracted over 500 institutional investors and approximately 3400 retail investors. Rights to shares (PDAs) began trading on the Warsaw Stock Exchange on 21 June 2016.
Alior Bank’s share issue was the largest public offering on the Warsaw Stock Exchange by value since 2013 and the largest rights issue since 2009. It was met with strong demand both in Poland and abroad. Alior Bank’s new shares were acquired by 3924 entities from 37 countries, including 533 institutional investors and 3391 individuals. Investors from Poland took up 70% of the offered shares. Entities from the European Union and the US made up the largest share of foreign investors. Foreign entities invested over PLN 660 million in total, making Alior Bank’s share issue possibly this year’s largest foreign investment in Poland.'
“Spectacular international success of Alior Bank’s share issue confirms the strength of the Polish capital market,” said Michał Krupiński, chairman of the supervisory board of Alior Bank and CEO of PZU SA, capital group of which Alior Bank is a member.
“Subscription results confirm that both domestic and international investors appreciate Alior Bank’s fundamentals and strategy. In less than a decade, we have gone from being a startup to being one of the most innovative banks in Europe, one that is actively participating in consolidating the banking sector in Poland. The PLN 2.2 billion raised from the share issue will allow us to finance the acquisition of Core Bank BPH and further dynamic development,” said Wojciech Sobieraj, CEO of Alior Bank.
“The undoubted global success of the issue is an indication of the trust that, despite higher uncertainty in financial markets, both Polish and foreign investors place not just in Alior Bank but also the entire Polish banking sector and capital market. Strong macroeconomic fundamentals of our market are particularly attractive for investors in times of uncertainty. Success of the offering was triggered by the fact that Alior Bank’s main shareholder – PZU – was intending to participate in the offering from the beginning,” said Michał Krupiński, chairman of the supervisory board of Alior Bank and CEO of PZU SA.
The success of Alior Bank’s share issue is even more pronounced, given the challenging situation on the capital markets today. According to IPO Watch Europe, a report from PwC, the past quarter saw the lowest global IPO activity in seven years.
Alior Bank’s share issue stands out against other public offerings on the Warsaw Stock Exchange not just because of its value and a substantial participation of foreign investors but also due to how quickly it was conducted. The PLN 2.2 billion rights issue was announced at the beginning of April 2016, and Alior Bank’s prospectus was approved by the Polish Financial Supervision Authority just six weeks later, which paved the way to commence accepting subscriptions. Four weeks after that, the new shares were allocated to investors.
Because investors subscribed for all of the offered shares by the first possible deadline (overall demand under pre-emptive rights and additional subscriptions exceeded the number of shares offered 1.5 times), rights to shares were introduced to trading on the Warsaw Stock Exchange earlier than initially expected, i.e. on 21 June 2016. Once the share capital increase is registered by court and the new-issue shares are registered by the National Depository for Securities (KDPW), they will be recorded on the investors’ accounts in exchange for their rights to shares (PDAs).
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Belonging to the PZU capital group, Alior Bank is one of the most dynamically developing banks in Poland. With PLN 42 billion assets at the end of 2015, it was the 11th largest bank in Poland. More than 6,500 employees and the fourth largest banking distribution network of 830 outlets ensure efficient service of nearly 3.1 million clients, including over 130,000 businesses. Moreover, selected Alior Bank products and services are offered at 583 T-Mobile outlets as a part of a strategic partnership, as well as at 70 Tesco stores. Alior Bank has been included in the WIG20 index for the largest and most liquid companies listed on the Warsaw Stock Exchange since 2014.
Disclaimer:
Not for release, publication or distribution, directly or indirectly, in or into the United States of America, Australia, Canada, Japan or any other jurisdiction where to do so would constitute a violation of the relevant laws or regulations of such jurisdiction.
This material is for promotional purposes only and under no circumstances shall constitute an offer or invitation to make an offer, or form the basis for a decision, to invest in the securities of Alior Bank S.A. (the “Company”). The prospectus (the “Prospectus”) prepared in connection with the offering and admission of the Company’s shares to trading on the Warsaw Stock Exchange is the sole legally binding document containing information about the Company and the offering of its shares in Poland (the “Offering”). The Prospectus was approved by the Polish Financial Supervision Authority on 18 May 2016. For the purposes of the Offering in Poland and admission of the Company’s shares to trading on the Warsaw Stock Exchange, the Company made the Prospectus available on the Company’s website www.aliorbank.pl.
The Company’s securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States, unless registered under the Securities Act or unless an exemption from the registration requirements set forth in the Securities Act applies to them. No public offering of the securities will be made in the United States and the Company does not intend to make any such registration under the Securities Act.
This material does not constitute a recommendation within the meaning of the Regulation of the Polish Minister of Finance Regarding Information Constituting Recommendations Concerning Financial Instruments or Issuers Thereof of 19 October 2005.
In the United Kingdom, this material is being distributed only to and is directed only at “qualified investors” within the meaning of section 86 of the Financial Services and Markets Act 2000 who are (a) persons who have professional experience in matters relating to investments falling within the definition of “investment professionals” in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”), (b) high net worth entities falling within Article 49(2)(a) to (d) of the Order and (c) other persons to whom it may be lawfully communicated (all such persons together being referred to as “relevant persons”). The securities will be available only to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be only with, relevant persons. Any person who is not a relevant person should not act or rely on this material or any of its contents.
Bank Zachodni WBK S.A. and Powszechna Kasa Oszczędności Bank Polski S.A. Oddział – Dom Maklerski PKO Banku Polskiego w Warszawie hold licenses and are regulated by the Polish Financial Supervision Authority in Poland and Goldman Sachs International and J.P. Morgan Securities plc each of which is authorized by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority in the United Kingdom (collectively the “Underwriters”), are acting exclusively for the Company and no-one else in connection with the Offering. They will not regard any other person as their respective clients in relation to the Offering and will not be responsible to anyone other than the Company for providing the protections afforded to their respective clients, nor for providing advice in connection with the Offering or any other matter, transaction or arrangement referred to herein.
None of the Underwriters or any of their respective directors, officers, employees, advisers or agents accepts any responsibility or liability whatsoever for/or makes any representation or warranty, express or implied, as to the truth, accuracy or completeness of the information in this material (or whether any information has been omitted from the material) or any other information relating to the Company, Bank BPH, Core BPH or their respective subsidiaries or associated companies, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available or for any loss howsoever arising from any use of this material or its contents or otherwise arising in connection therewith.
Statements contained herein may constitute “forward-looking statements”. Forward-looking statements are generally identifiable by the use of the words “may”, “will”, “should”, “aim”, “plan”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “project”, “goal” or “target” or the negative of these words or other variations on these words or comparable terminology.
Forward-looking statements involve a number of known and unknown risks, uncertainties and other factors that could cause the Company’s or its industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. The Company does not undertake publicly to update or revise any forward-looking statement that may be made herein, whether as a result of new information, future events or otherwise.
Neither the Company nor any of its subsidiaries, professional advisors or any other related entities shall be held accountable for any damages resulting from the use of this material or part thereof, or its contents or in any other manner in connection with this material.
“Spectacular international success of Alior Bank’s share issue confirms the strength of the Polish capital market,” said Michał Krupiński, chairman of the supervisory board of Alior Bank and CEO of PZU SA, capital group of which Alior Bank is a member.
“Subscription results confirm that both domestic and international investors appreciate Alior Bank’s fundamentals and strategy. In less than a decade, we have gone from being a startup to being one of the most innovative banks in Europe, one that is actively participating in consolidating the banking sector in Poland. The PLN 2.2 billion raised from the share issue will allow us to finance the acquisition of Core Bank BPH and further dynamic development,” said Wojciech Sobieraj, CEO of Alior Bank.
“The undoubted global success of the issue is an indication of the trust that, despite higher uncertainty in financial markets, both Polish and foreign investors place not just in Alior Bank but also the entire Polish banking sector and capital market. Strong macroeconomic fundamentals of our market are particularly attractive for investors in times of uncertainty. Success of the offering was triggered by the fact that Alior Bank’s main shareholder – PZU – was intending to participate in the offering from the beginning,” said Michał Krupiński, chairman of the supervisory board of Alior Bank and CEO of PZU SA.
The success of Alior Bank’s share issue is even more pronounced, given the challenging situation on the capital markets today. According to IPO Watch Europe, a report from PwC, the past quarter saw the lowest global IPO activity in seven years.
Alior Bank’s share issue stands out against other public offerings on the Warsaw Stock Exchange not just because of its value and a substantial participation of foreign investors but also due to how quickly it was conducted. The PLN 2.2 billion rights issue was announced at the beginning of April 2016, and Alior Bank’s prospectus was approved by the Polish Financial Supervision Authority just six weeks later, which paved the way to commence accepting subscriptions. Four weeks after that, the new shares were allocated to investors.
Because investors subscribed for all of the offered shares by the first possible deadline (overall demand under pre-emptive rights and additional subscriptions exceeded the number of shares offered 1.5 times), rights to shares were introduced to trading on the Warsaw Stock Exchange earlier than initially expected, i.e. on 21 June 2016. Once the share capital increase is registered by court and the new-issue shares are registered by the National Depository for Securities (KDPW), they will be recorded on the investors’ accounts in exchange for their rights to shares (PDAs).
***
Belonging to the PZU capital group, Alior Bank is one of the most dynamically developing banks in Poland. With PLN 42 billion assets at the end of 2015, it was the 11th largest bank in Poland. More than 6,500 employees and the fourth largest banking distribution network of 830 outlets ensure efficient service of nearly 3.1 million clients, including over 130,000 businesses. Moreover, selected Alior Bank products and services are offered at 583 T-Mobile outlets as a part of a strategic partnership, as well as at 70 Tesco stores. Alior Bank has been included in the WIG20 index for the largest and most liquid companies listed on the Warsaw Stock Exchange since 2014.
Disclaimer:
Not for release, publication or distribution, directly or indirectly, in or into the United States of America, Australia, Canada, Japan or any other jurisdiction where to do so would constitute a violation of the relevant laws or regulations of such jurisdiction.
This material is for promotional purposes only and under no circumstances shall constitute an offer or invitation to make an offer, or form the basis for a decision, to invest in the securities of Alior Bank S.A. (the “Company”). The prospectus (the “Prospectus”) prepared in connection with the offering and admission of the Company’s shares to trading on the Warsaw Stock Exchange is the sole legally binding document containing information about the Company and the offering of its shares in Poland (the “Offering”). The Prospectus was approved by the Polish Financial Supervision Authority on 18 May 2016. For the purposes of the Offering in Poland and admission of the Company’s shares to trading on the Warsaw Stock Exchange, the Company made the Prospectus available on the Company’s website www.aliorbank.pl.
The Company’s securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States, unless registered under the Securities Act or unless an exemption from the registration requirements set forth in the Securities Act applies to them. No public offering of the securities will be made in the United States and the Company does not intend to make any such registration under the Securities Act.
This material does not constitute a recommendation within the meaning of the Regulation of the Polish Minister of Finance Regarding Information Constituting Recommendations Concerning Financial Instruments or Issuers Thereof of 19 October 2005.
In the United Kingdom, this material is being distributed only to and is directed only at “qualified investors” within the meaning of section 86 of the Financial Services and Markets Act 2000 who are (a) persons who have professional experience in matters relating to investments falling within the definition of “investment professionals” in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”), (b) high net worth entities falling within Article 49(2)(a) to (d) of the Order and (c) other persons to whom it may be lawfully communicated (all such persons together being referred to as “relevant persons”). The securities will be available only to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be only with, relevant persons. Any person who is not a relevant person should not act or rely on this material or any of its contents.
Bank Zachodni WBK S.A. and Powszechna Kasa Oszczędności Bank Polski S.A. Oddział – Dom Maklerski PKO Banku Polskiego w Warszawie hold licenses and are regulated by the Polish Financial Supervision Authority in Poland and Goldman Sachs International and J.P. Morgan Securities plc each of which is authorized by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority in the United Kingdom (collectively the “Underwriters”), are acting exclusively for the Company and no-one else in connection with the Offering. They will not regard any other person as their respective clients in relation to the Offering and will not be responsible to anyone other than the Company for providing the protections afforded to their respective clients, nor for providing advice in connection with the Offering or any other matter, transaction or arrangement referred to herein.
None of the Underwriters or any of their respective directors, officers, employees, advisers or agents accepts any responsibility or liability whatsoever for/or makes any representation or warranty, express or implied, as to the truth, accuracy or completeness of the information in this material (or whether any information has been omitted from the material) or any other information relating to the Company, Bank BPH, Core BPH or their respective subsidiaries or associated companies, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available or for any loss howsoever arising from any use of this material or its contents or otherwise arising in connection therewith.
Statements contained herein may constitute “forward-looking statements”. Forward-looking statements are generally identifiable by the use of the words “may”, “will”, “should”, “aim”, “plan”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “project”, “goal” or “target” or the negative of these words or other variations on these words or comparable terminology.
Forward-looking statements involve a number of known and unknown risks, uncertainties and other factors that could cause the Company’s or its industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. The Company does not undertake publicly to update or revise any forward-looking statement that may be made herein, whether as a result of new information, future events or otherwise.
Neither the Company nor any of its subsidiaries, professional advisors or any other related entities shall be held accountable for any damages resulting from the use of this material or part thereof, or its contents or in any other manner in connection with this material.