Acciona Energía’s price range for IPO is between €26.73 and €29.76 per share

Spanish renewable energy company Acciona Energía announced that the non-binding price range for its initial public offering (IPO) will be set between €26.73 and €29.76 ($22.52 to $25.07) per share. The Board of Directors has authorized the placement of a minimum of 15 percent and a maximum of 25 percent of the share capital. The price range results in an equity value of Acciona Energía between €8.8 billion and €9.8 billion on listing and an enterprise value between €11.9 billion and €12.9 billion. Acciona Energía, which will be listed under the ticker symbol »ANE«, will apply for admission to negotiation on the Madrid, Barcelona, Bilbao and Valencia Stock Exchanges.
As reported, the energy business generated earnings before interest, tax, depreciation and amortization (EBITDA) of €831 million ($1 billion) in 2020. »The new structure should allow Acciona to increase its installed capacity by 2 GW per year between now and 2025, double its previous target.«
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