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Trigon (IMAP Poland) advised ONDE SA, the leading developer and general contractor of renewable energy infrastructure in Poland, on the successful completion of its Initial Public Offering on the Warsaw Stock Exchange (GPW), realizing proceeds of PLN 444.5m (ca., €96M) at an implied market capitalization of PLN 1.43bn (ca., €311M).

ONDE’s equity story is founded on its leading market position in the wind and photovoltaic farm construction in Poland and its recent expansion into development of green energy infrastructure. Coupled with the ongoing energy transformation of the country and generally favorable conditions for green energy development in Europe, the IPO was oversubscribed at its maximum price in both, retail and institutional tranches, leading to a reduction of allocation in the retail tranche of 89.4%.

Trigon acted as sole financial advisor, sole global coordinator and sole bookrunner.