Weekly renewables M&A round-up (Aug 15-19)
Aug 19, 2022 17:14 CESTNovember 16 (Renewables Now) - Norwegian offshore wind service vessels operator Edda Wind ASA on Monday priced its initial public offering (IPO) on Euronext Oslo at the level of previous indications, netting a pre-money valuation of roughly NOK 1.02 billion (USD 118m/EUR 103m) on a fully-diluted basis.
Edda Wind is marketing close to 28.7 million new shares at a price of NOK 30.75 apiece, seeking gross proceeds of NOK 875 million. The company is granting the underwriters an option to provide a maximum of 4.3 million additional shares to cover over-allotment.
The Norwegian offshore services firm has secured NOK 465 million from three cornerstone investors -- Geveran Trading, an investment vehicle indirectly controlled by the family of shipping billionaire John Fredriksen, Singapore-based Quantum Pacific Shipping's subsidiary Xclat Holdings as well as the investment management arm of financial services group Nordea.
Proceeds from the offering will go towards financing the construction of six new vessels to be completed in 2022 and further fleet expansion as well as for the repayment of a shareholder loan from Østensjø Wind AS and Wilhelmsen New Energy AS.
Edda Wind expects to reach a free float of at least 25%. Shares in the company are scheduled to begin trading on or around November 26 with the ticker "EWIND".
(NOK 10 = USD 1.154/EUR 1.008)
Weekly renewables M&A round-up (Aug 15-19)
Aug 19, 2022 17:14 CESTEnel Russia sues Siemens Gamesa for USD 383m - report
Aug 19, 2022 17:13 CESTMaxeon's net loss widens in Q2, accelerates US capacity plans
Aug 19, 2022 15:17 CESTGerman-NZ team to study new catalyst materials for electrolysis
Aug 19, 2022 14:59 CESTSource Energie's floating-wind-to-H2 plans align with Crown Estate map
Aug 19, 2022 14:52 CESTEquinor talks offshore wind, H2 in Vietnam with local oil & gas major
Aug 19, 2022 13:42 CEST