Renewable

BELGRADE (Serbia), November 14 (SeeNews) - Shares of Fintel Energija, the Serbian subsidiary of Italy's Fintel Energia Group, will start trading on the prime listing segment of the Belgrade Stock Exchange on November 20, the bourse said.

A total of 26,510,506 shares will be available for trading at an indicative price of 500 dinars ($4.8/4.2 euro) apiece, the Belgrade Stock Exchange said on Tuesday. 

Fintel Energija successfully completed the first initial public offering (IPO) on the Belgrade Stock Exchange since 1940 on October 31.

The company raised 755.3 million dinars on the stock exchange through the IPO, in which investors subscribed for 1,510,506 Fintel Energija shares without a nominal value at an issue price of 500 dinars apiece, Fintel Energija said last month.

After the transaction, the share capital of Fintel Energija amounts to 4.056 million dinars. The company has divided its share capital into 26,510,506 new shares with an accounting value of 0.153 dinars apiece.

Italy's Fintel Energia Group is implementing wind energy projects in Serbia through MK Fintel Wind, a joint venture with Serbian vertically integrated conglomerate MK Group.

MK Fintel Wind was set up in 2008 and already operates two wind farm in Serbia, with a combined installed capacity of 16.5 MW.

(1 euro = 118.211 dinars)