Opdenergy postpones its IPO after Ecoener’s hit. The company had planned to jump on the floor this Friday but delays its debut due to “unstable” market conditions.
The energy company Opdenergy postpones its IPO, scheduled for this Friday, May 7, due to “unstable” market conditions. The decision comes after the bump by Ecoener , the first of a long list of renewable energy companies that had announced its jump to the market this year , which left 15.25% on its first day as a listed company.
A decision that also doubles the pressure on other companies such as Acciona or Repsol that were planning their jump to the market.
“The company and the offering shareholders, after consulting with the global coordinating entities of the offer, Banco Santander and Citigroup Global Markets Europe AG, have decided to postpone the offer and admission, in view of the unstable conditions of the markets as a whole and for renewable energy companies, “Opdenergy explained in a statement sent to the National Securities Market Commission (CNMV).
“Consequently, the subscription orders and indications of interest received from investors in the offer are without effect ,” he added.
On April 23, the CNMV approved and registered the prospectus for what was to be the second of the renewables sector IPOs in the year, after Ecoener. The company expected to raise gross funds of approximately € 375 million by issuing new shares offered in the offering.
However, it approved a capital increase for a maximum effective amount (including par value and share premium) of 425 million euros, and reserved the option to increase the number of new shares offered to obtain gross funds of up to 425 million euros in gross funds.
Opdenergy is a company specialized in renewable energies with 15 years of experience . It has 350 megawatts of its own in operation and under construction and a goal for 2023 of reaching 4,500 megawatts.
The firm has managed to consolidate a relevant presence in countries such as the United States, Mexico, Chile, Italy and the United Kingdom , as well as Spain . The company, present in these markets both through photovoltaic and wind projects .