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Ecoener shares slide on market debut following trimmed-down IPO Email
Grupo Ecoener CEO Luis de Valdivia at the company’s bell ringing ceremony, markings it admission to the Spanish stock exchange. Image: Grupo Ecoener.
UPDATE:
Shares in Ecoener continued to fall throughout its maiden day of trading in Spain, closing the day at €5, more than 15% down on its opening price of €5.90.
Spanish renewables developer and independent power producer (IPP) Grupo Ecoener has seen its shares slide on its market debut today.
At the time of publication shares in the group had slid more than 8% to just over €5.50 after listing on the Spanish stock exchanges earlier today. The slide took Ecoener’s share price below the €5.90 per share guide set by the company last week, with the company having previously set a price range of €5.90 – €7.25.
By Reuters Staff
2 Min Read
MADRID, April 30 (Reuters) - Spanish green energy group Ecoener said on Friday demand had been limited for its initial public offering and said it had agreed to sell its shares at the low end of a targeted range.
In the first test of investor appetite for fresh shares in Madrid this year and a precursor to larger anticipated deals, Ecoener raised just under 100 million euros ($121 million).
The company’s original plan had been to raise as much as 200 million euros to spend on new facilities including wind farms and solar parks, but it decided to slash that on Wednesday.