Argumenol Investment Company, a Cypriot firm controlled by the family foundation of billionaire Zygmunt Solorz, has initiated a call for the sale of 17,299,636 shares of ZE PAK. This represents approximately 34.04% of the company’s equity and voting rights.
According to Trigon DM, the intermediary managing the call, the offer price is set at 18 PLN per share. Subscriptions will be accepted from November 3 to December 2, 2026, with the transaction expected to finalize on December 7 and settlement on December 10, 2026.
Argumenol has been a majority shareholder of ZE PAK for years, currently holding 65.96% of the shares. The company aims to acquire all outstanding shares to secure 100% of the voting rights in ZE PAK. If the required threshold of 95% of shares is reached, Argumenol plans to conduct a compulsory buyout of the remaining shares and initiate the process of delisting ZE PAK from the Warsaw Stock Exchange.
The call is contingent on signing a strategic cooperation agreement between ZE PAK and Argumenol by the end of the subscription period. This agreement will outline the terms of collaboration, including financial and strategic advisory services and support in the company’s operational transformation and delisting procedures.
Argumenol Investment Company, based in Limassol, is fully owned by the Solkomtel foundation, also registered in Cyprus, and is one of the investment vehicles linked to Zygmunt Solorz and his children: Piotr Żak, Tobias Solorz, and Aleksandra Żak.
