The non-binding price range for its IPO established in its prospectus was between 4.75 and 5.50 euros, which meant a valuation of the company between 503 and 572 million before the capital increase.
Opdenergy reduced the price range of its initial public offering downwards: after closing of the prospecting period for the request for an offer to subscribe to Opdenergy shares, the Company and the Global Coordinating Entities (Banco Santander, SA Barclays Bank Ireland PLC and Société Générale), have determined to set the final price of this at 4.75 euros per share. The range established in its brochure was between 4.75 and 5.50 euros, which meant a valuation of the company between 503 and 572 million before the capital increase and will now be 703 million euros after the capital increase. ‘operation.
as collected in the prospectus approved by the National Securities Market Commission, the offer includes the issue of 42,111,474 new shares with a value of approximately 200 million euros, which may be extended by the sale of 4,211,147 shares with a value of approximately 20 million additional euros , in the event of full exercise of the over-allotment option (green shoe) up to 10% on the initial offer, granted by the current shareholders to the global co-ordinating entities.
The Offer was made up of four different tranches: (i) a first tranche intended for qualified investors and investors who buy or subscribe to securities for a total amount of at least 100,000 euros per investor; (ii) a second tranche intended for certain employees of the Company group; (iii) a third installment addressed to certain members of the senior management, the CEO and certain persons closely linked or related to the Company, the senior management or the beneficial owners of the shareholders of the Company; (iv) and a fourth tranche intended for any type of investor residing in Spain (the “Various Investors”) according to the conditions set out in the Prospectus. The new shares will be distributed mainly among investors.long only“, of high quality, with a long-term business vision and who see the company as an investment opportunity committed to ESG best practices.
Upon admission, Opdenergy and current shareholders will be subject to a blackout period (lock up) of 180 days, and each employee who acquires new shares, the CEO and senior management will be subject to a lock up of 365 days.
Opdenergy shares are expected to begin trading tomorrow, July 22, at 1:00 p.m. under the teleprinter “OPDE”. The traditional ringing of the bell will be performed by the company’s CEO, Luis Cid, at the Palacio de la Bolsa in Madrid. Following the settlement-delivery of the Offer, the current shareholders will hold 71.6% of the capital of Opdenergy. In any event, said participation may be reduced to 68.7%, in the event of exercise of the “green shoe” in its entirety.
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