Solarpack debuts on stock market in Spain

Spanish large-scale solar PV project developer Solarpack began trading on the Bilbao, Madrid, Barcelona and Valencia stock markets. This initial ordinary share offering, which represents 36.7 percent of the company’s capital, gives Solarpack €100 million ($113 million) in new financial reserves, which could be extended by €10 million under a greenshoe clause allowing participating banks to buy additional shares at the offering price.
Solarpack was backed by a group of institutional and qualified national and international investors, with a high proportion of Spanish backers and specialist funds, in a brief placement process that was not affected by adverse market conditions. The funds from this ordinary share issue will be invested mainly in the execution of 510 MW of contracted projects, the acquisition of 13 MW of operational assets in Spain and the development of additional projects within a worldwide portfolio totaling 2.9 GW.

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