The National Securities Market Commission (CNMV) today approved the brochure for the initial offering of Ecoener shares, a Galician company with more than 30 years of history dedicated to the development, construction and operation of renewable facilities.
The indicative and non-binding price range has been established between 5.90 and 7.25 euros per share and the final price of the offer is expected to be determined on April 28, 2021 or soon after the conclusion of a demand prospecting process that began today and is expected to end on April 28, 2021.
The offer is aimed exclusively at qualified institutional investors and the shares are expected to be traded on the Madrid, Barcelona, Valencia and Bilbao stock exchanges from April 30 under the symbol "ENER".
Ecoener expects to obtain approximately 181.8 million euros through the initial offering of, based on the upper end of the offering price range, approximately 25 million newly issued shares that will represent up to 38.5% of the company's capital stock. The funds raised could be increased to around 200 million if the overallotment option is exercised of up to 10% of the initial offer in full.
The board of directors de Ecoener will be formed by its founder, Luis de Valdivia; former ministers Ana Palacio and Eduardo Serra; Inés Juste, Juan Carlos Ureta, María Eugenia Girón, Fernando Lacadena, Dean Tenerelli, Carlos González-Bueno and Fernando Rodríguez.
Following the offer, the sole shareholder (Ecoener SLU) will have 61.5% of the share capital (or 59.2% if the overallotment option is fully exercised).