Subscription for new GreenVolt shares ends

 In Companies, Green energy, News, Renewables

The subscription period for new shares which were issued to raise capital for renewables energy company GreenVolt from June 20 ended today. (Monday, 4 July)

The capital raise is for €99,994,277,12 (nearly €100 million) from the issue of 17,792,576 new shares, representing 12.785% of the share capital.
In information sent to the Portuguese stock market commission (CMVM) on 9 June it was informed that the price of the new shares was €5.62, and that shareholders and investors have preferential subscription rights.
One day after the market was informed of the operation, Altri (formerly the major shareholder) announced that it would not be involved in the GreenVolt capital increase, and that its shareholders would have the opportunity to directly take part in the operation.
“Given that Altri is in a process of the total automatisation of its business, it decided not to take part in the capital increase, understanding, however, that Altri shareholders should be given the opportunity to do so directly”, stated the company in a communiqué sent to the market on 10 June.
On 31 May, Altri announced that it had distributed a 39.64% share it had in GreenVolt to shareholders, reducing its stake in the renewable energy company from 58.72% to 19.08%