Senvion has launched an accelerated book-building to implement a capital increase of about €62.5m.
The turbine manufacturer intends to use the proceeds for growth opportunities and to fund its expansion in new markets such as India.
Acting chief executive Manav Sharma said: “We have seen an almost 400% order increase in new markets year-over-year and we expect 20-40% revenue growth in 2019. We are meeting or even exceeding our own market share targets in key regions.”
He added: “We see that we can capture even further potential in these markets by providing support in terms of enhanced production capacities, working capital flexibility and creating optionality via strategic co-investments.”
Major shareholders have already agreed to purchase new shares in the offering, giving rise to gross proceeds of €37.5m at the placement price.
Image: Senvion
Senvion to raise €62.5m
By EBS