EDP Renovaveis Completes Bookbuild of Around EUR1.5 Billion
03 Marzo 2021 - 10:56AM
Dow Jones News
By Joshua Stein
EDP Renovaveis SA said Wednesday that it has completed an
accelerated bookbuild of around 1.5 billion euros ($1.81 billion),
as part of a plan to pursue a capital increase of the same
amount.
The Portuguese renewable-energy company said it completed the
bookbuild by placing more than 88 million shares at EUR17 per
share, representing a 9.3% discount to the market closing price on
March 2.
The company launched the bookbuild late Tuesday as part of a
plan to pursue a capital increase equal to the gross proceeds of
the bookbuild.
EDP Renovaveis's board of directors backed a proposal for the
capital increase to be presented at the general shareholders
meeting to be held on or around April 12.
The company said the increase would partially fund its capital
expenditure plans as EDP Renovaveis aims to spend around EUR19
billion in deploying about 20 gigawatts of renewables additions
until 2025.
Write to Joshua Stein at joshua.stein@wsj.com
(END) Dow Jones Newswires
March 03, 2021 04:41 ET (09:41 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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