Photon gets AFM’s nod to move to main markets in Warsaw, Prague

Amsterdam-based solar power company Photon Energy NV (WSE:PEN) has received clearance to move the listing of its shares to the regulated markets of the Warsaw and Prague Stock Exchanges.

The Netherlands Authority of the Financial Markets, also known as the AFM, has given the green light to Photon’s prospectus that was prepared in connection with the transfer, scheduled for early next month. The company is currently listed on the alternative trading system NewConnect in Warsaw and the unregulated Free Market in Prague.

Photon noted that the transfer will not involve any new share issuance and that all shares will continue to be traded under the present ticker symbol “PEN”.

Chief executive Georg Hotar commented that this key milestone coincides with the company’s entry into the Polish solar market, where it sees “above-average growth prospects”.

“Moving to the regulated markets will help to stimulate liquidity and diversify our investor base by providing the opportunity to invest in our shares to institutional investors. We will also be more likely to gain the notice of retail investors,” he said.

To date, Photon has built and commissioned more than 100 MWp of solar parks across two continents and 74.7 MWp as part of its own portfolio. At present, the firm is developing 594.6 MWp in Australia, 96.6 MWp in Hungary, 4.6 MWp in Poland and 97.4 MWp in Romania. In addition, it provides operations and maintenance (O&M) services for more than 300 MWp around the world.

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