• The operation has amounted to a total of 35 million euros, with a tranche of 1 million euros of secondary.
• The starting price of the share has been closed at 5.46 euros.
• The company, the first to debut at BME Growth this year, will be listed with the ENRS ticker, in continuous mode.
• Following the capital increase, Enerside will have over 1,200 investors including a combination of institutional investors, family offices, private banking and retail.
• The free float at the time of going public will be more than 25%.
• The listing to BME Growth is a preliminary step in its strategy of becoming listed on the continuous market.
• Enerside, a vertically integrated solar PV company, aims to operate 1 GW of installed capacity as an independent power producer.
Barcelona, March 2nd, 2022.- Enerside Energy, S.A. will start trading on BME Growth on March 4th with a market capitalization of 204 million euros, after successfully closing a capital increase of 34 million euros.
The operation has been over-subscribed and has finally been closed for a total of 35 million euros, with a tranche of 1 million euros of Secondary offer.
Thus, the final volume of the operation has been placed at the midpoint of the desired volume, which was between 30 and 40 million euros. With this, Enerside ensures that it has the necessary capital to execute its business plan, as explained by the company during the road show with investors held during the past weeks.
First company to join BME Growth in 2022
Enerside, which will be the first company to debut this year in BME Growth, has set the price per share at 5.46 euros and will trade with the ENRS ticker in continuous mode.
At the time of going public, Enerside will have a floating capital of 25% and over 1,200 shareholders, including institutional investors, family offices, private banking, and retail.
The CIO of Enerside, Jaume Solà, commented that “we thank investors for the confidence we have received, despite the current difficult situation in the capital markets. This proves the strength of our project and the favourable long-term prospects of renewable energies.”
For the company, which began its journey almost 2 years ago in the BME Pre-market environment, leaving now to BME Growth is a previous and natural step in its strategy of becoming listed on the continuous market in the medium term, with the aim of being able to provide greater liquidity and visibility to its investors.
According to the CEO of Enerside, Joatham Grange, “the IPO of the company in BME Growth is a very relevant milestone since it allows us to finance our strong growth plans and provide the company with greater solvency, transparency and recognition”. “Enerside’s Business Plan has, among others, the objectives of being an independent power producer with 1GW of installed capacity of solar photovoltaic energy in 2025,” he adds.
Enerside is a vertically integrated company in the photovoltaic solar energy sector, which stands out for its strong industrial profile and geographical diversification in the markets with the greatest potential for solar energy (Spain, Italy, Brazil, and Chile).
Enerside is currently immersed in developing 4.5 GW in differentiated, highly qualified projects with an advanced degree of maturity that provides an excellent position to capture demand growth and a large capacity to generate value, through the sale of projects in the RTB (Ready To Build) phase and with the direct operation of part of the pipeline as an independent energy producer (IPP).
The past year, 2021, was a transformational year for the company after reaching several business milestones that allowed the company to make a very relevant qualitative leap, fully integrating into its revenues the construction of projects for third parties (EPC) and the sale of its own projects in the RTB phase, which capture the value generated through the company’s distinctive industrial know-how.
For this year, 2022, the company estimates a significant growth in revenues to stand above 40 million euros, and an EBITDA of more than 3 million euros. To date, Enerside has over 60% visibility of these objectives, thanks to already signed EPC/BOS contracts with clients of recognized prestige.
Management team with high experience in the sector and top-level governance
The company has a Board of Directors, in accordance with the best practices of international corporate governance, which includes three independent directors. In addition, it has a management team with great experience and solvency in the energy sector that has been working together for several years.
Advisors of the operation
The capital increase operation and subsequent IPO is being directed by ALANTRA EQUITIES SOCIEDAD DE VALORES, S.A., as Global Coordinating Entity and Placement Entity (Sole Global Coordinator and Joint Bookrunner), ANDBANK ESPAÑA, S.A.U. and RENTA 4 BANCO, S.A., as Joint Bookrunners. Likewise, RENTA 4 BANCO, S.A., acts as an Agent of the Offer and as a Liquidity Provider.
The issuer’s advisors are Renta 4 Corporate, S.A., in its capacity as registered advisor, and Latham & Watkins LLP, as advisor on the legal aspects of the offer. The legal advisor of the placement entities is Linklaters, S.L.P. On the other hand, EY has participated as auditor of the company and in the financial due diligence and Ramón y Cajal has carried out the due legal diligence of the operation.
More information at www.enerside.com
Telf. 616 952 066