Spanish company Opdenergy has valued itself between €503m and €572m ahead of a planned IPO aimed at raising €200m to fund its business plan to 2025.
The business plan envisages the ongoing transformation of the company into a larger and more geographically diversified independent power producer.
Opdenergy said the indicative and non-binding offering price range will be between €4.75 and €5.40 per new share.
The company said that it considers that the price range will allow investors to participate in the business model of a company that has a clear vision and a defined strategy, aimed at achieving its medium-term objectives while promoting sustainable development.
The offering remains subject to the approval by the Spanish Securities Market Commission of the prospectus in connection with the offering and the admission to trading.
The prospectus will include full details on the offering and the specific timetable.
The offering will consist of a primary offering of a number of new ordinary shares of the company to qualified investors and investors that buy or subscribe securities for a total consideration of at least €100,000 per investor.
It will also be open to certain employees of the company’s group and certain members of the senior management, as well as public investors.
Opdenergy’s target is to reach a generation capacity of about 3.3GW of assets in operation and under construction by 2025,