(Boursier.com) — Neoen launches a capital increase with maintenance of preferential subscription rights (DPS) of approximately 750 million euros in order to increase its installed capacity by 50% while intensifying its investments in storage. In a market that has seen electricity prices rise sharply, Neoen intends to step up the pace of its investments in order to seize the increasing opportunities, both in the marketing of green electricity sales contracts and in innovative and differences in storage.
In this context, the need for additional equity, necessary to finance these investments, amounts to 750 ME. The funds raised as part of this capital increase will be directly used for the construction of new capacities, which will translate into the generation of additional income as they are commissioned.
As an indication, Neoen estimates that its first 10 GW will generate, once fully in operation, an annual adjusted EBITDA of around 750 million euros, excluding the contribution of ‘early generation’ revenues and excluding the contribution of ‘farm’ operations. -down’.
The subscription price is set at 20.45 euros per share.
The subscription period runs from March 10 to 22, 2023 inclusive. The operation is carried out on the basis of 8 new shares for 25 existing shares. The trading period for the preferential subscription right (DPS) runs from March 8 to 20, 2023, inclusive.
Neoen’s main shareholders have undertaken to subscribe approximately 43.9% of the capital increase for approximately €329 million.
In session, Neoen shares fell 0.66% to 30.06 euros.
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