Spain's Holaluz completes IPO, starts trading on Nov 29

Solar panels in Spain. Author: Jordi Domènech i Arnau. License: Creative Commons, Attribution-ShareAlike 2.0 Generic.

November 25 (Renewables Now) - The shares of Barcelona-based renewable power retailer Holaluz will begin trading on Spain’s alternative equity market MAB on Friday, November 29, making a debut with a market capitalisation of EUR 160 million.

The listing follows a EUR-30-million capital increase closed with institutional investors, alongside an offer by the Holaluz co-founders and shareholder Axon Capital Partners to sell EUR 10.4 million worth of shares, the company said.

Holaluz will free float 25.25% of the company under the ticker symbol HLZ at a price of EUR 7.78 per share.

After the initial public offering (IPO), Holaluz co-founders -- Carlota Pi, Oriol Vila and Ferran Nogue -- will control the company with a 48.750% stake, while alternative asset manager Axon Capital Partners and Basque pension fund entity Geroa EPSV will own 17.88% and 8.125%, respectively.

The Spanish company, which sells only electricity from 100% renewable sources, said it is targeting a customer base of 1 million and 50,000 solar photovoltaic (PV) installations by 2023.

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Sladjana has significant experience as a Spain-focused business news reporter and is now diving deeper into the global renewable energy industry. She is the person to seek if you need information about Latin American renewables and the Spanish market.

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