GreenVolt rang the bell on July 13 with the IPO price between 4.25 and 5 euros per share – Stock Exchange

There is already a history of GreenVolt’s entry on the Portuguese Stock Exchange. On July 13, the company indicated that the bell would ring again at 196 Avenida da Liberdade, in the Portuguese capital, Euronext’s headquarters in Lisbon. Until then, the renewable energy company has set an indicative price of between €4.25 and €5 per share of its stock in this IPO (the initial public offering, in Portuguese), which begins on Friday, July 2, and will run until the following. Thursday, July 8.

But the now fixed price range is only indicative, the company remembers, and may change during the “bookbuilding” period, depending on what demand the titles issued are now in. There is also the possibility that the price was set above or below this amount on your first trading day on the exchange.

to me Release Sent this morning to CMVM – the Portuguese Securities Exchange Commission, the offer is based on a capital increase of 130 million euros (up to 30,588.235 shares), aimed at institutional investors, to which is added a tranche of 56 million in cash, reserved for shareholders of the Polish company V-Ridium , who invest assets in Greenvolt (11,200,000 shares).

However, the prospect of an IPO now announced includes a so-called “over-allocation option”, also known as a “green shoe option”, which gives investors the opportunity to buy 15% more shares than expected (approximately 4,588,235 shares) Within 30 days of the start of the IPO. If investor demand covers this entire volume, the transaction price will be 149,9998.56 million euros, excluding the part dedicated to V-Ridium. In general, the new company on the national stock exchange will be able to raise up to 205,499,98.56 million euros in the process.

This prospectus once again confirms what has been announced: 5% of GreenVolt’s share capital will be delivered to Altri shareholders. But now, the company led by João Manso Neto, who previously ran EDP Renováveis, adds that some “core” investors in Altri have shown a “huge interest” in GreenVolt stock. Among them are Promendo Investimentos, Caderno Azul, Actium Capital, Livrefluxo and 1 Thing.

“We are very excited about the excellent initial reception among our dedicated investors for our IPO and look forward to deepening our relationships with them,” says Joao Manso Neto, CEO of GreenVolt, in the same note.

GreenVolt and Altri will have a 180-day “close-out” period after entering the Portuguese stock exchange, which means that they will not be able to sell shares of the new listed company during that time period. In addition, V-Ridium shareholders who will now receive GreenVolt shares will receive a 24 month lock-in.

The process will be controlled by BNP Paribas and CaixaBank, acting as joint global coordinators, while Santander and JB Capital Markets will be the underwriting managers, who will have the role of offering these securities with investors. PLMJ will be the legal advisor for this offering and Deloitte will be GreenVolt’s auditor.

Greenvolt is a renewable energy company, Assuming it has a 48% share in biomass. It recently announced its agreement to buy several assets, notably from Tilbury, which has biomass plants in the UK. Solar and wind are connected via the V-Ridium. The proceeds from the operation will be used for growth in these three renewable areas: biomass, wind and solar energy.