Terna Energy's share issue reaps EUR 68.5m

Greek renewable power producer Terna Energy (ATH:TENERGY) has completed a private share offering, raising a total of EUR 68.5 million (USD 81m).

The company has obtained the funds by selling 6.23 million of newly issued stock to funds managed by Blackrock Inc (NYSE:BLK), Anavio Capital Partners LLP, Kayne Anderson Capital Advisors LP and Impax Asset Management. The placement was fully subscribed, Terna Energy said earlier this week.

The renewable power producer announced previously it will allocate the raised funds to support projects for clean energy production and storage in the Greek market in line with the company’s investment programme addressing climate change.

Following the placement, the share capital of Terna Energy will stand at EUR 36.04 million, split between 120.1 million common registered shares with voting rights and a nominal value of EUR 0.30 apiece.

The start of trading of the new shares on the Athens bourse will be announced with a separate statement.

(EUR 1.0 = USD 1.183)

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