Tauron Polska Energia (TPE), one of Poland’s biggest power companies, has had a new management since March 8th headed by Dariusz Lubera.
“We will focus on the IPO in 2009”, Dariusz Lubera said.
TPE, comprising of PKE, Enion, EnergaPro and Stalowa Wola power plant, has no strategy.
“I presume the strategy for the company and the group will be ready after vacations”, the CEO said.
The strategy should convince stock investors to buy Tauron’s shares. Dariusz Lubera has already talked with Jan Bury, deputy minister of the treasury responsible for the energy sector who confirmed that the government wants the company to be listed on the Warsaw Stock Exchange. Newly issued shares will be offered to investors. The state will try to keep a controlling stake.
“Funds raised on the WSE will be spent for investments. This is one of the opportunities to raise necessary funds. We may issue bonds but it’s too early to give specific amounts of money”, Mr. Lubera stressed.
Last year, Tauron issued bonds worth PLN 150m (EUR 42.5m) to buy PEC in Katowice.
TPE group has annual sales of PLN 13bn, employs over 20,000 people and has 5,407MW of capacity. It has 3.9m clients.
(PLN 1 = EUR 0.283)