Cuatrecasas, Garrigues advise on SolarProfit´s IPO on BME Growth

Cuatrecasas has advised SolarProfit on its debut on BME Growth, with Garrigues counselling the placement entity GVC Gaesco Valores

BME Growth has welcomed SolarProfit, with the traditional Bell Ringing ceremony, which was held at the Barcelona Stock Exchange. Óscar Gómez and Roger Fernández, founding partners of the company, led the event, during which they were accompanied by Eduardo Ansaldo, Cchairman of the Barcelona stock exchange, and Jesús González Nieto-Márquez, general manager of BME Growth.

The company, which is the fifteenth to list on BME Growth so far this year, set a reference value for each of its shares of €9.37, giving it a total value of €183.92 million.

The Board of Directors of BME Growth had already approved the listing following a thorough review of all the information presented by the company and after the favourable assessment report on its listing issued by the Coordination and Admission Committee.

“It is a pleasure to welcome SolarProfit to the BME Growth family. With it, investors in this market will have a new company in the renewable energy sector, which is one of the most interesting sectors due to the decisive role it will have to play in the transition to a green economy,” said Jesús González Nieto-Márquez, General Manager of BME Growth.

SolarProfit, which started trading under the code “SPH”, and whose company name is PROFITHOL, is a newly created holding company made up of seven subsidiaries that offer a comprehensive service for the promotion, design, setting-up and maintenance of solar photovoltaic installations. In addition, it offers an after-sales service, its own financing facility and acts as a prescriber both in the financing and marketing of electricity and gas.

Cuatrecasas advised SolarProfit on the incorporation process and on the Legal, Tax and Labour Due Diligence with a Barcelona office team formed by M&A and Capital Markets partner Gerard Correig (pictured left), along with Corporate/M&A senior associate Roger Freixes, and lawyers Claudio Hoyos and Josep Casanellas, among others.

Garrigues advised GVC Gaesco Valores S.V., S.A. (as placement entity) with a team formed by Barcelona office Corporate/Commercial partner Naiara Bueno (pictured right) and associate Arturo Noguer.

Desire Vidal