By Isla Binnie
MADRID, Apr 22 (Reuters) – Spanish renewable energy company Opdenergy is finalizing its plans to launch a sale of shares worth up to 412 million euros ($ 494.7 million) to take advantage of demand of green assets by investors, two sources familiar with the matter said on Thursday.
Opdenergy is seeking funds to expand its portfolio of photovoltaic plants and wind farms.
The company wants to raise 375 million euros with the IPO in Madrid, and the operation could amount to 412 million euros if the option of over-allotment or “greenshoe” is exercised, the sources told Reuters, who spoke on condition of anonymity. .
Opdenergy declined to comment.
After conducting initial discussions with potential investors, Opdenergy will decide on a price bracket for individual stocks on Friday, sources said.
Once the company’s shareholders give their final approval, the company will begin accepting purchase requests on April 26. One of the sources later said that the lawsuit’s books could be opened on Friday.
Opdenergy, which is led by Luis Cid, said in early April that it wants to raise 400 million euros with the listing of its shares on the Spanish market, which is preparing for several initial public offerings in the sector.
Citi and Santander coordinate the operation, while Alantra, Bank of America, Berenberg and RBC Capital Markets are “bookrunners”.
Rothschild & Co and Evercore also advise the company.
Opdenergy is working on projects in Spain, Italy, the United Kingdom, France, Poland, the United States, Chile and Mexico. On Wednesday he said that he had commissioned BBVA to manage and underwrite some 500 million euros of financing.
(Information from Isla Binnie, edited by Pamela Barbaglia, Kirsten Donovan and Andrew Heavens; translated by Flora Gómez in the Gdansk newsroom)