- Press Releases
July 14 (Renewables Now) - Spain’s securities market regulator CNMV on Wednesday approved the prospectus for the initial public offering (IPO) and listing of shares of Opdenergy Holding SA, as the Spanish renewables developer prepares to raise around EUR 200 million (USD 200.3m) of gross proceeds in the process.
Earlier this week, Opdenergy set an indicative price in the range of EUR 4.75 to EUR 5.40 per share, valuing the company between EUR 503 million and EUR 572 million.
Book building starts today, July 14. Opdenergy’s shares will be listed on the Spanish stock exchanges under the ticker symbol OPDE on July 22, according to the prospectus.
The wind and solar power producer will issue new shares to qualified investors, certain employees and management, and the public in Spain. As announced earlier and confirmed in the prospectus, Spanish entity Global Portfolio Investments SL has secured a number of shares for itself, amounting to 6% of Opdenergy’s share capital post-offering.
Opdenergy’s current three shareholders will offer some of their shares in the over-allotment.
Once the process is finalised, 20.83% of Opdenergy’s stock will be in free float assuming that the over-allotment option is not exercised. In the event that the over-allotment option is fully exercised, the free float will stand at 23.54%.
Opdenergy will use the proceeds to fund its renewables development, and boost its portfolio to 3.3 GW in operation and under construction in 2025 from 2.4 GW it has today.
(EUR 1.0 = USD 1.002)