January 31 (Renewables Now) - German wind farm developer ABO Wind AG has raised almost EUR 7 million (USD 7.7m) in its recent share offering that was met with high investor demand.
The company said on Thursday that the EUR 6.8 million will go to support its business, which also involves the development of solar parks. At present, the company is working on new projects in 16 countries, it said withouth providing details on the specific projects.
Institutional investors purchased 400,000 new shares in ABO Wind at EUR 17.10 apiece in a transaction that was “clearly oversubscribed.” The raised proceeds bring the developer’s current market capitalisation to more than EUR 150 million. The majority of the new shares in it were subscribed by the Quest Cleantech Fund, an equity fund managed by Belgium's Capricorn Partners.
ABO Wind’s founding families, Ahn and Bockholt, who collectively own 57% of the company’s shares, and Frankfurt energy supplier Mainova, which holds 10%, were not involved in the capital increase deal.
(EUR 1.0 = USD 1.103)