Alternus starts trading on Oslo stock exchange

Source: Pixabay

June 30 (Renewables Now) - Ireland-based independent power producer Alternus Energy Group Plc (OSE:ALT) today started trading on the Euronext Growth Oslo stock exchange.

The solar PV-focused company was up-listed from the Euronext NOTC, a marketplace for unlisted shares in Norway.

The listing follows a EUR-7-million (USD 8m) private placement completed last week, as part of which the company sold 2.5 million new shares priced at about EUR 2.8 apiece.

After the share issue, the company's stock amounts to 26.2 million shares, while its capitalisation is about EUR 73 million.

Alternus will use the new cash to fund the execution of its contracted backlog of projects, which currently has a capacity of 1.4 GWp. The company plans to own and operate 3.5 GW of solar power capacity by 2025.

The private placement and listing were coordinated by Arctic Securities AS.

(EUR 1.0 = USD 1.189)

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Before joining Renewables Now, Alex was a UK-focused business news reporter. Now she is covering global news from the renewable energy industry with a special interest in M&A.

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