INYPSA Informes y Proyectos : approves a major capital increase

INYPSA approved a capital increase of € 30.4 million (€ 30,438,002.40) at the Extraordinary General Meeting of Shareholders held on 26 April, which would put its share capital at € 50.7 million. At present it is 20.3 million. The capital increase will be carried out through the issuance of new ordinary shares, € 0.137 in nominal value, without issue premium, and with preferential subscription rights at the rate of three new shares for every two old shares.

This capital inflow will allow the company to address a growth plan, which consists of implementing, along with the traditional Engineering activity, three new business areas: Energy Efficiency, Renewable Energies and Urban Development.

The Energy Efficiency activity will be carried out through the subsidiary INYPSA Eficiencia, S.L., focusing its attention on the good opportunities currently offered by the Spanish and Latin American markets in the industrial and tourism sectors. The planned investment between 2017 and 2021 is about 15 million euros.

Another priority objective for INYPSA is the Renewable Energy sector, a market with very good prospects in Spain and Latin America, where there is a strong demand for wind, photovoltaic, hydro, biomass and geothermal energy. The company will launch projects for the generation of renewable energy from wind and photovoltaic parks.

Finally, the Urban Development activity will be dedicated to social housing in Latin America, especially in the Dominican Republic, where the access of the population to the middle class has given rise to a large number of new consumers with housing needs. This activity, in addition, will generate an important volume of work in engineering and construction, which will be channeled through the branch of Engineering.

As it has been advanced at the General Shareholders' Meeting, INYPSA already has the commitment of several shareholders present on the Board of Directors who have expressed their confidence in the plan, irrevocably committing themselves to the subscription of all the shares corresponding to them, so that The extension has, in advance, the commitment of the subscription of almost 50% of its total amount.