Tuesday, August 16

Holaluz increases capital by 7.5 million to accelerate the “Rooftop Revolution”

  • The company incorporates the German fund Abacon as a shareholder and increases the participation of Pelion and MDR Inversiones

  • The operation is carried out at 13.81 euros per share, which represents a 19% premium compared to Wednesday’s price.

In full escalation of the electricity prices, the board of directors of Hello, Luz has approved increase capital by 7.5 million euros to speed up the “Revolution of the Roofs’, designed to promote the installation of photovoltaic solar energy on the roofs of the houses. The operation, which is added to the injection of 11 million agreed last October by the shareholders’ meeting, represents the entry into the capital of the German fund Abacon Invest, with 3.9 million, as well as the increased participation of Plion Greeen Future Alpha, also from Germany (it has been acquiring packages in the market), both specialized in green energy; and MDR Inversiones, owned by the family Moratiel, that already participated in the October capital increase.

In the opinion of the president of Holaluz, Carlota Pi, the company’s initiative to “transform every square meter of roof into 100% green energy for all is now more necessary than ever saving more than 50% on the electricity bill “. Pi affirms that the escalation of the electricity bill is not temporary but responds to “a structurally out-of-date system.”

Qualified investors

The capital increase, with exclusion of the pre-emptive subscription right is carried out at 13.81 euros per share, which means one before 19% compared to Wednesday’s price. The 543,084 new shares to be issued will represent 2.47% of the capital. 6.7 million euros of the operation will be subscribed by Abacon (3.9 million), Pelion (2.5 million) and MDR Inversiones (199,996, 42 euros), according to the agreement reached with these investors. The company reserves the option to offer new surplus shares to other qualified investors. Pi claims that the fact that shareholders already present come with a premium reveals the growth potential of the stock.

Related news

The funds raised will be used in full a la filial Holaluz Rooftop Revolution. The rooftops initiative has reached and to the 6,295 managed facilities, 378,202 clients and a representation portfolio of more than 1,630 megawatts (MW) as of September 30. One of Holaluz’s goals is to the purchase of installation companies of photovoltaic panels to speed up the process and cover a demand that exceeds supply, explains the president of Holaluz.

The company closed last June with sales in the first half of 186.8 million euros, which represents an increase of 51.9% compared to the same period last year.

Reference-www.elperiodico.com

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