RyC advises Grenergy on a €150m capital increase

Ramón y Cajal Abogados has advised Spain´s Grenergy Renovables on the completion of a €105 million capital increase

Grenergy, the Spanish company that produces energy from renewable sources, has successfully completed an accelerated capital increase of €105 million to consolidate its growth plan, as to the Spanish National Securities Market Commission (CNMV).

The operation has put into circulation 3,620,690 new shares representing 12.96 per cent of the resulting share capital of the company for a final value of €29 per share, which will be admitted to trading in the coming days on the stock exchanges of Madrid, Barcelona, Bilbao and Valencia.

In this way, Grenergy has welcomed new qualified investors, mainly international, to its shareholder base. David Ruiz de Andrés, CEO and maximum shareholder of the company has participated in the transaction by subscribing almost 5 per cent of the new shares.

Barclays acted as global coordinator of the issue, while JB Capital Markets, Oddo and RBC acted as Co-Global Coordinators and Joint Bookrunners, with Natixis acting as ESG advisor to the company during the transaction.

With this transaction, the company closes the financing of the equity needs of the projects it will connect in the short and medium-term. It will also enable the company to accelerate pipeline generation in the different regions where it operates, as well as to strengthen its organisational structure in order to meet the objectives of its business plan.

According to David Ruiz de Andrés, CEO of Grenergy, “this transaction allows us to accelerate our growth, guaranteeing the necessary equity to meet all the objectives of our business plan”.

Ramón y Cajal Abogados´ team was led by Capital Markets partners Andrés Mas Abad (pictured left) and Carlos Lao García (pictured right), and included lawyers Lucía García Clavería and Daniel Pardeza de la Fuente.

RyC advises Grenergy on a €150m capital increase

Desire Vidal


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