PLN

AM Best Revises Outlooks to Stable for Polskie Towarzystwo Reasekuracji S.A.

Retrieved on: 
Friday, August 18, 2023
Consulting, Professional Services, Insurance, Finance, AM Best, ALL, ERM, Credit, USD, PLN, Fairfax Financial, Risk, AM, News, Risk management

AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Polskie Towarzystwo Reasekuracji S.A. (Polish Re) (Poland).

Key Points: 
  • AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Polskie Towarzystwo Reasekuracji S.A. (Polish Re) (Poland).
  • In addition, Fairfax provides technical support in areas such as reserving, retrocession protection and investment management services.
  • The projected improvement in 2023 factors a planned USD 18 million capital injection from Fairfax, due to occur before year end.
  • AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry.

PLN to Cooperate with CCCC, an EPC Company, Focusing on Development of Renewable Energy

Retrieved on: 
Tuesday, May 23, 2023
RE, Three Gorges Dam, Hangzhou Bay, North Ocean Shipping Co. Ltd. v. Hyundai Construction Co., Ltd., CCCC, Engineering, EPC, PT, NZE, PLN, Renewable energy, Natural gas, Hangzhou Bay Bridge, LNG

Construction Co., Ltd (CCCC) for the development of renewable energy (RE) in Indonesia.

Key Points: 
  • Construction Co., Ltd (CCCC) for the development of renewable energy (RE) in Indonesia.
  • Darmawan Prasodjo explained that his company is currently developing renewable energy power plants, including hydroelectric power plants, solar power plants, wind turbines and pumped storage power plants, in Indonesia.
  • "The cooperation that has been built between PLN and CCCC is expected to accelerate the construction of renewable energy power plants.
  • through solid cooperation between PLN and CCCC is also expected to strengthen economic relations between China and Indonesia," stated Darmawan.

Molecure completes successful Secondary Public Offering (SPO) of approximately PLN 50 million (USD 12 million) with proceeds to be used to fund and build a first in class, sustainable pipeline of breakthrough therapies

Retrieved on: 
Friday, July 21, 2023
Secondary market offering, Shareholder, Partnership, Therapy, WSE, Cancer, Research, Negotiation, H share, USD, SPO, Messenger, Sale, PLN, Patient, Advertising, Machine learning, Series, Biology, Growth, MOC, Pharmaceutical industry, Security (finance)

The issue price was set at PLN 18, bringing the gross value of the offering to approximately PLN 50 million.

Key Points: 
  • The issue price was set at PLN 18, bringing the gross value of the offering to approximately PLN 50 million.
  • We would like to thank all investors for participating in the offering and for the trust they have placed in Molecure.
  • Considering the current market conditions, we view the execution of the share issue as a remarkable achievement.
  • Molecure estimates that the capital expenditure associated with the strategy from mid-2023 to the end of 2025 will amount to approximately PLN 250 million.

Pro League Network and BrinxTV Sign Production Deal for Made-for-Wagering Content and Streaming

Retrieved on: 
Thursday, July 20, 2023
State, Partnership, Shoulder, PLN, US, Pro Football Hall of Fame, Hall, Sport, Emmy Awards, News, Pro, Champ Bailey

NEW YORK, July 20, 2023 /PRNewswire/ -- Pro League Network (www.ProLeagueNetwork.com), the leading producer of fun and inherently bettable live sports for sportsbook operators, and Brinx TV (Brinx.tv), the rising platform for the next generation of sports entertainment programming, will bring PLN's made-for-wagering sports to a wider audience on the Brinx TV platform.

Key Points: 
  • As part of the rights deal, Brinx TV and PLN will jointly produce live made-for-wagering sporting events exclusive to the Brinx.TV platform and additional shoulder programming focused on PLN sports.
  • PLN and Brinx.TV will jointly produce a number of PLN sports on location, as well at Trillith Studios in Atlanta.
  • The companies will develop a PLN-branded channel on the Brinx.TV platform that will serve as a destination for PLN sports.
  • "PLN is ahead of the curve in the sports betting market," said John Brenkus, six-time Emmy Award winner and creator of Brinx.TV.

Lottery results: analysis of exceptional winnings in June 2023 from renomovekasyno.pl

Retrieved on: 
Friday, July 7, 2023
Keno, National Lottery (Ireland), Life, Plus, History, PLN, Satellite navigation device, Auction, Eurojackpot, Lotto

Michal Stępień, an expert at renomowanekasyno.pl , analyzed Totalizator Sportowy's data for June and shared the biggest winnings of the month in Poland.

Key Points: 
  • Michal Stępień, an expert at renomowanekasyno.pl , analyzed Totalizator Sportowy's data for June and shared the biggest winnings of the month in Poland.
  • At the same time, there was another lucky jackpot in Trzebnica, Lower Silesia, with a Lotto Plus win.
  • It was the biggest win in the history of the lottery in that city.
  • During the Multi Multi and Multi Plus promotion period, hitting 9 numbers resulted in a 50% increase in winnings.

EQS-News: Commerzbank continues to aim for a significantly higher net profit in 2023 despite additional burdens in Poland

Retrieved on: 
Friday, June 23, 2023
ECJ, PLN, European Court, European Court of Justice, MBank, Commerzbank, Bank

Overall, the provision for legal risks arising from mBank’s Swiss franc loans now amounts to a total of PLN 7.517 billion (around €1.7 billion).

Key Points: 
  • Overall, the provision for legal risks arising from mBank’s Swiss franc loans now amounts to a total of PLN 7.517 billion (around €1.7 billion).
  • The additional provisions in Poland will have a corresponding negative impact on Commerzbank’s operating result in the second quarter of the current year.
  • Despite this burden, Commerzbank still aims for a net result in 2023 well above that of 2022.
  • In addition, a legal solution to the foreign currency issue in Poland would be desirable.”

Additional provisions for CHF loan portfolio at mBank of €342m – Commerzbank still aiming for a net profit in 2023 well above that of 2022

Retrieved on: 
Friday, June 23, 2023
Justice, Risk management, Commerzbank, MBank, PLN, ECJ, CHF, Security (finance), Q2

€342 million) for its CHF loan portfolio in Q2.

Key Points: 
  • €342 million) for its CHF loan portfolio in Q2.
  • Commerzbank’s second quarter operating result will be burdened by a corresponding amount which will be booked as negative revenues in “Other net income”.
  • Despite this burden, Commerzbank still aims for a net result in 2023 well above that of 2022.
  • Commerzbank has no obligation to update or release any revisions to the forward-looking statements contained in this release to reflect events or circumstances after the date of this release.

Commerzbank continues to aim for a significantly higher net profit in 2023 despite additional burdens in Poland

Retrieved on: 
Friday, June 23, 2023
ECJ, PLN, European Court, European Court of Justice, MBank, Commerzbank, Bank

Overall, the provision for legal risks arising from mBank’s Swiss franc loans now amounts to a total of PLN 7.517 billion (around €1.7 billion).

Key Points: 
  • Overall, the provision for legal risks arising from mBank’s Swiss franc loans now amounts to a total of PLN 7.517 billion (around €1.7 billion).
  • The additional provisions in Poland will have a corresponding negative impact on Commerzbank’s operating result in the second quarter of the current year.
  • Despite this burden, Commerzbank still aims for a net result in 2023 well above that of 2022.
  • In addition, a legal solution to the foreign currency issue in Poland would be desirable.”

Norsk Hydro: Hydro increases price in tender offer for Alumetal to PLN 82.00 per share

Retrieved on: 
Thursday, June 22, 2023
LDA, PLN, Warsaw Stock Exchange, Acquisition, Civil service commission, European Commission, Sale, Cryptocurrency

Hydro is raising the price again in its ongoing tender offer for 100 percent of Polish recycler Alumetal to PLN 82.00 per share.

Key Points: 
  • Hydro is raising the price again in its ongoing tender offer for 100 percent of Polish recycler Alumetal to PLN 82.00 per share.
  • The higher price will be valid until the end of the subscription period on June 30, 2023.
  • Holders of more than 80 percent of Alumetal shares have already committed to Hydro's tender offer.
  • In mid-June, another important condition of the tender offer was fulfilled, namely that existing Alumetal shareholders had subscribed for at least 50 percent of the shares.

Norsk Hydro: Hydro moves closer to completion of acquiring Alumetal

Retrieved on: 
Thursday, June 15, 2023
LDA, PLN, Hydro, Acquisition, CET, Civil service commission, European Commission, Sale, Security (finance)

As of 16:30 (CET) on Thursday, June 15, 2023, approximately 68 percent of the shares have already been subscribed.

Key Points: 
  • As of 16:30 (CET) on Thursday, June 15, 2023, approximately 68 percent of the shares have already been subscribed.
  • Hydro is offering PLN 82.00 per each Alumetal share to all shareholders who subscribe for the sale of shares by 23:59 on June 15, 2023.
  • This is with the exception that approximately 32.7 percent of the shares owned by IPO30 UNIPESSOAL LDA will be acquired by Hydro at PLN 78.69 per share.
  • Hydro received unconditional approval from the European Commission for the proposed acquisition of Alumetal in early May, so there are no outstanding regulatory conditions to complete the transaction.