MADRID, 29 Jun. (EUROPA PRESS) –
The independent producer of renewable energy Opdenergy has announced that it intends to go public with a valuation of 575 million euros, an operation with which it hopes to obtain gross funds of up to 200 million euros to finance its business plan until 2025 through a primary offering of new shares aimed at qualified investors.
The company has explained in a statement that it is in “advanced talks” with an “anchor investor” who has expressed interest in subscribing for approximately 25% of the offering.
Proceeds from that offering will be used to fund capital expenditures associated with developing its 2025 target, which is to reach a capacity of c.3.3 GW of assets in operation and under construction.
This will mean doubling its current gross capacity in operation and under construction and multiplying its operating capacity approximately sixfold, according to the statement.
On the other hand, Opdenergy plans to offer a part of the shares of the offer to all types of investors resident in Spain for an amount of less than eight million euros, while shares will be offered to certain employees of the group, members of the high management, the CEO and certain people closely related or linked to the company
Opdenergy had planned to go public on May 7, 2021 with a capitalization of between 826 and 926 million, but decided to postpone the operation due to “unstable” market conditions and the premiere of Ecoener a few days before, which registered a fall of more than 15% the day of its premiere.
“Our goal of becoming a listed company is a key milestone for Opdenergy. The funds obtained from the offering will allow us to continue developing renewable energy projects in our markets, with a profitable and business-oriented strategy, focused on sustainability, and to continue supplying clean energy to our customers in Europe and America”, highlighted the CEO of the company, Luis Cid.
Banco Santander, Barclays Bank Ireland PLC and Société Générale will act as global coordinating entities for the offer and, together with JB Capital Markets, will act as joint bookrunners for the offer.
Banco Cooperativo Español and GVC Gaesco Valores will act as ‘co-lead managers’, and Banca March and Renta 4 Banco will act as placement agents.
