Acciona seeks $11.6 bln valuation with IPO

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Date: 23.06.2021

Spain's Acciona said it was targeting a valuation of up to 9.8 billion euros ($11.66 billion) for its energy business following the listing of up to 25% of this unit, in what is set to be one of the biggest in a record year far for listings in Europe.

The energy and infrastructure group said in a statement it planned to price its energy unit on the domestic stock market at between 26.73 euros and 29.76 euros per share, raising as much as 2.45 billion euros without taking into account an over-allotment option to the joint global coordinators of the deal.

The planned IPO, which initially offers between 15% and 25% of its renewable business and is the largest in Spain in more than six years, has been one of the most closely watched deals in Europe.

The price range would give its energy unit a valuation of between 9.8 billion euros and 8.8 billion euros, higher than the current group's valuation of 7.56 billion euros.

Acciona said its renewables energy unit would apply for admission to negotiation on the Spanish stock market without providing a date.

by Ella Jones | Linkedin

#News #IPO #ICO #Acciona #Wcryptn.com

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