In a statement, GreenVolt reveals that "the offering price has been set at €4.25," and the “number of the initial offering shares to be issued pursuant to the offering shall be 30,588,23."
GreenVolt has already fixed the price of its shares. The company led by Manso Neto, owned by Altri, announced that will sell just over 30 million shares for €4.25 each. The sale will bring in €130 million.
In a statement sent to CMVM, GreenVolt reveals that “the offering price has been set at €4.25,” and the “number of the initial offering shares to be issued pursuant to the offering shall be 30,588,235.”
Since the beginning of the month, the company has been looking for institutional investors to buy shares at a price range of €4.25 to €5.00. It ended up setting the securities’ value at the lower end of the range, even though demand outstripped supply before the deadline.
“A volume of subscription orders was reached today [Friday] that exceeds the object of the said offering (including the so-called Initial Offer Shares and Option Shares),” GreenVolt announced last week. The offer was valid until this Monday, July 12.
Based on the €4.25 per share, and considering the 30 million securities that will be sold, GreenVolt expects its “share capital will be increased to € 255,999,998.75.” As part of the capital increase operation, “the relevant commercial registration request, also contemplating the amounts pertaining to the subscription in kind, shall be filed tomorrow [July 14],” the company added.
In addition to the capital increase in cash, which will finance the growth of the renewables business in the coming years, Greenvolt is also carrying out a capital increase in kind, amounting to €56 million, which will be subscribed by V-Ridium, a company that owns wind and solar energy projects.