GreenVolt: Share demand 186.8%

 In Companies, Green energy, News

As the deadline passed yesterday to buy new shares issued by renewables company GreenVolt, it transpired that demand was 186.8% while 42% of the shares sold went to Portuguese investors.

The company led by João Manso Neto (formerly CEO of EDP Renovavéis) announced on Tuesday that it had “successfully concluded” a capital raise of €100 million, an operation which saw strong demand from investors.
The capital raise means that GreenVolt can “make investments faster, as well as be ready for opportunities that arise in the development of a strategy for growth in renewable energies”.
According to information sent to the CMVM, total demand for the 17,252,191 new shares stood at 186.8% compared to the offer. Almost all of the capital raise — 97% of the €99.9 million asked — was almost totally secured from share subscription rights -, with the subscriptions for the other 540,385 new shares exceeding those available by 30 times.