Capital market entities
Bank Gospodarstwa Krajowego
Bank Gospodarstwa Krajowego (BGK) is the State Development Bank of Poland. The main objective of BGK is to support economic development of the country and enhance the life-quality of the Polish society. Thanks to State ownership, big scale activity and exceptionally stable position, the Bank takes part in financing the biggest infrastructural investments and stimulates the development of enterprises in Poland and foreign markets. BGK operates with the thought about the future and is not afraid of implementing the long-term investments. It gives the first and the last coin, encouraging others to take part in ambitious projects. The Bank successfully supports entrepreneurship, which it perceives as a national treasure. BGK has unique experience in financing, investing, granting bails and guarantees as well as distributing EU funds. It takes an initiative and develops new solutions. It is a valuable partner for national and local institutions, enterprises and banks. BGK’s employees are distinguished from others by pro-national attitude and exceptional competencies in the realization of project for country’s development. BGK brought to Poland great history of achievements, which serve it a true inspiration for the conduction of further activities. Indeed, the Bank works for the bright future of Poland and its subsequent generations.
The new strategy of BGK for 2014-2017, defines its current function as a national development bank. It underlines the mission, which assumes support of social and economic development of Poland and the sector of public finance in the performance of its tasks. The aims, stipulated in strategy, meets Bank stakeholder’s expectations as well as internal and external operating conditions, including priorities of economic policy of the Polish Government. The most important strategic goals of the Bank include strengthening of BGK in terms of its position of a development bank by means of increasing current involvement in financing enterprises as a part of Polish Investments programme as well as loan and guarantee activities. BGK is planning to gain and maintain the key role in the implementation of European programmes, especially those, concerning repayable financial instruments.
Bank Pekao S.A.
Bank Pekao S.A. operates on the market for almost 85 years and represents one of the largest financial institutions in Central and Eastern Europe. Bank Pekao belongs to one of the biggest Pan-European financial groups, UniCredit Group, which operates in 17 European countries with a network of 8000 branches and around 146,000 employees. In terms of capital strength, measured as capital adequacy ratio, the Bank is a leader among large banks, operating in Poland, and one of the safest banks at the Pan-European level (Pekao Core Tier 1 ratio at the end of 2015 was at the level of 17,7%). Bank Pekao S.A. has a network of 1000 branches across the country and offers its clients access to more than 1700 free of charge cash dispensers in Poland and around 20 000 in 17 European countries. The Bank Pekao Group consists of the Investment Fund Company, pension fund, two leading brokerage houses in Poland, as well as leasing and factoring subsidiaries.
Bank Pekao was awarded with many prestigious prizes and titles, both on the national, as well as international level. The mobile banking application “PeoPay” was hailed in 2015 as Financial Innovation of 2014 in a prestigious ranking of “The Gold Banker”; while the Bank’s mobile solutions took first places in Bankier.pl ranking. In addition to that, Bank Pekao was also awarded a title of “Most innovative Bank in CEE & CIS” according to EMEA Finance magazine. In the corporate field in 2013, Pekao was awarded the Best Bank in Poland in terms of Transactional Banking Service, according to Euromoney Magazine, for the third consecutive time. Pekao was awarded „Bank of the Year in CEE 2013” by Europa Property. It has also gained Warsaw Stock Exchange award as a leader of Polish capital market in 2013 - Award for the biggest value of issues of non-Treasury debt instruments introduced to Catalyst in 2013. The bank gained prestigious awards for the Best Bank in Poland of „Global Finance” and „The Banker” magazines for the third time.
Warsaw Stock Exchange
Warsaw Stock Exchange (GPW) has helped Polish companies to grow for 25 years, enabling them to raise capital for investments, job creation, international expansion, research and development. Thanks to the developed capital market infrastructure and the strength of the local economy, investors from around the world have invested their capital in Polish companies. Another major source of capital are the savings of nearly 20 million Poles, managed by domestic investment and pension funds. Companies listed on the GPW are the biggest investors in Poland, which makes them a key driver of the economic growth of the regions. Listed companies employ more than 776 thousand people in Poland, i.e. approximately 14% of the total workforce of the corporate sector (source: Central Statistical Office, PwC, 2015). In 2015, companies newly listed on GPW’s stock markets and their owners jointly raised EUR 440 million of capital, which ranks Poland #10 in Europe. As measured by the number of IPOs, Warsaw came third in Europe after London and Stockholm. The strong interest of local and regional companies in listing on GPW has for many years strengthened the position of the Exchange as one of Europe’s leading and CEE’s top market by the number of listed companies. The markets operated by GPW offer trade in stocks and bonds of nearly one thousand local and international issuers. Most of the issuers are small and medium-sized companies of Polish origin.
The Exchange also offers trading in debt instruments, derivatives and structured products, and promotes economic education through the GPW Foundation. Warsaw Stock Exchange is a dominant company of the Warsaw Stock Exchange Group, whose offer includes, in addition to the financial market, commodity market. 25 years of experience, security of trade, operational excellence and a wide range of products make GPW one of the most recognized Polish financial institutions world-wide. Acting through the Polish Power Exchange (TGE) the GPW Group makes a major contribution to the liberalization of Poland’s energy and natural gas markets and helps to improve the country’s energy security. TGE is an active participant of the European energy market as a member of PCR (Price Coupling of Regions) and supports trade via the link with Sweden and Lithuania. It is also an important part of the national support scheme for the production of energy from renewable sources and cogeneration.
Export Credit Insurance Corporation Joint Stock Company (KUKE)
For more than 25 years, the Company has been providing insurance services to Polish entrepreneurs. It covers both export and domestic transactions of their clients, facilitating safe trade in Poland and abroad. The activities of the Company focus on insuring trade receivables, arising from sales of goods and services with deferred payment. As part of insurance activities, KUKE issues bonds and guarantees. As the only insurance company in Poland, KUKE is authorized to provide export insurance backed by the State Treasury, thus, offering insurance cover on markets, exposed to higher political risk. As the only insurer in Poland, the corporation cover export transactions with payment terms exceeding the period of two years. It also facilitates the access to external financing. The factoring company of the corporation, KUKE Finance, provides export and domestic factoring services in all available forms, particularly within the framework of non-recourse factoring i.e. where the factor assumes the risk of non-payment by his client’s buyer.
Green Way Private Assets Close-End Investment Fund
The missions assumed by the Fund is to contribute to the innovative investments’ market in Poland and to acquire a significant part in it. The Fund’s investment philosophy makes an assumption of active and disciplined asset management, under strictly defined principles. Innovative approach of Green Way (PACIF) towards constantly changing market trends allows it to be a reliable and firm partner for the Investors, offering the highest quality of the investments and complex financial solutions suited for their needs.
Main investment fields of Green Way (PACIF):
• Reorganization of enterprises – subjects showing the possibility of restoring the inner balance and opening for system changing process with the high income generation ability,
• Logistics – developer projects related to constructing and projecting of logistics centres for renting or sale, located near main roads, highways and agglomerations
• Industrial immovable properties – purchase of attractive immovable properties of a high value increase potential and high income generation, f. in. from lease
• Telemedicine and oncology diagnostics – subjects from developing branch of telemedicine and medical centres using innovative diagnostic techniques
• Power engineering – enterprises dealing with the production of electrical, thermal and cooling energy, including alternative fuels. It also involves the companies realizing RES (Renewable Energy Sources) projects, mostly photovoltaic and wind farms. The Fund is planning its investments into electric vehicles market companies.
• Waste management – enterprises dealing with the recycling of plastics wastes and rubber to oils, causing increase of the recyclable wastes and allowing to obtain a relatively high reimbursement rate
• IT solutions – companies dealing with projecting and implementing the software, mobile apps, cloud solutions and fleet and telemetric systems monitoring.
The Fund performs an active management policy, which means that it constantly monitors the course of the investments and actively participates in project management . The Fund is obliged to act in accordance with the principles of a limited investment risk, defined in The Investment Funds Act. Green Way (PACIF) makes its every effort in order to provide the financed projects with the highest possible potential profitability and limited risk in order to ensure the Investors’ capital safety. Cooperation between the experts in terms of technology as well as business, is aimed at increasing the chances of success of those projects. The capital acquired under Investment Certificate emission in 2016, shall be devoted to key projects development, including logistics centres and to attractive industrial immovable properties purchase made by the Fund.
FinCrea investment funds association s.a.
Establishing and managing closed-end investment funds prepared and designed according to the clients’ needs is FinCrea’s main activity. In 2008, FinCrea was taken over by UCFS Advisory Group and became the Group’s flagship. Activities of FinCrea focus on the Group’s own and foreign investors’ projects in the field of corporate receivables, illiquid assets, real properties, clean-tech and transaction optimisations. The company has well-qualified management staff and closely cooperates with many leading international advisors and investors, who enjoy an excellent reputation on both local and global markets. Their relations are based on a mutual respect and trust, thanks to an in-depth recognition of each other’s investment goals and strategies. In wider context the company, as a part of FinCrea Group, participates in:
•diligence processes, valuation and acquisition of the corporate debt (and other asset-backed securities) both in the portfolio and individual debt context,
•legal and debt collection processes (and other asset-backed securities) both in the portfolio and individual debt context (single names),
•investment projects in the segment of commercial real properties and also development projects, including structuring of financing for such ventures,
•M&A projects - counselling, structuring and optimisation of a given transaction,
•investment projects connected with alternative energy sources and waste disposal,
•investment projects from the energy sector,
•counselling and diligence processes in the discounted loan sale transactions,
•restructuring and acquisition of projects connected with illiquid assets,
•optimisation projects in cooperation with renowned counselling companies concerning both solutions for individual projects/customers, and also structures of the broadly understood investment market.
Navigator Capital provides investment banking services and specialises in fields of transactional and financial advisory. It consists of 3 specialised entities: Navigator Capital S.A., Brokerage House Navigator S.A. and Navigator Debt Advisory LLC. Navigator Capital is an Authorised Adviser of NewConnect market. It offers share issue services, introducing them to ASO NewConnect and transferring company’s quotations from NewConnect to a regulated market. The Navigator’s managers have already coordinated more than 70 bond issues with a total value of more than PLN 900 million in the cooperation with nearly 50 issuers. The Navigator’s Management Staff is associated with corporate bonds market since the Catalyst was established. Since the beginning of the 2015, the group has conducted bond issue with a total value of PLN 173 million and in 2014 - PLN 166 million. All of them were successfully acquired by investors. Navigator Capital specializes in investment banking services for mid-sized and large companies. It provides complex services in fields of acquiring share capital on the private market. Thanks to its business relations, the Group is able to acquire, for clients, appropriate financial measures from private market, including sources such as: private equity/venture capital funds, industry investors, individual investors.
Navigator Brokerage House S.A. provides licensed brokerage services within transactions performed by Navigator Group. It is a licensed entity conducting brokerage activity under the supervision of the Polish Financial Supervision Authority and a specialised entity in the capital raising transactions (mainly through issue of shares and bonds) for middle-sized and large companies operating on the capital market. Navigator Brokerage House S.A. has the necessary authorisation to carry out brokerage activity in accordance with the Polish Financial Supervision Authority’s decision of 27 September 2007. Navigator Debt Advisory offers services regarding comprehensive advisory in terms of corporate bonds issue. Apart from acquiring capital for their clients, the services include indicating optimal transaction conditions regarding clients’ financial position and investors’ expectations as well as after-issue advising in terms of contacting investors, National Depository of Securities, Warsaw Stock Exchange and BondSpot. Navigator Debt Advisory also analyses financial situation of companies, searches for opportunities to acquire debt financing, evaluates debt servicing capability and prepares reports on corporate bonds market in Poland. As an independent advisor it ensures the reliability and objectivity of its publication.