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    GRE   ES0105079000

GRENERGY RENOVABLES, S.A.

(GRE)
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Real-time Estimate Quote. Real-time Estimate Tradegate - 04/20 03:50:06 pm
26.25 EUR   -2.78%
04/05Capital Energy bows out of Spanish green IPO race
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Capital Energy bows out of Spanish green IPO race

04/05/2021 | 10:29am EDT

MADRID, April 5 (Reuters) - Spanish wind and solar developer Capital Energy has decided against a potential market listing, put off by an expected glut of such deals and volatility among other stocks in the sector.

Spain's lofty targets to install wind farms and solar parks have caught the eyes of investors keen to deploy funds in a sector boosted by an international drive to cut planet-warming emissions.

Madrid-based Capital Energy, which says it has a portfolio of projects with more than 35 gigawatts of capacity, was among several companies expected to launch a listing in the coming months to finance such projects.

But after several months weighing options to raise funds, the company decided against the stock market, a spokesman said.

"Given the current volatility in the market around listed renewable energy companies and the foreseeable over-supply of stock market listings by other companies in the sector, now is not the right moment to list," the spokesman said.

It may still consider an IPO in the future, he added.

The company has secured enough financing from banks and investors to cover its needs for the next 18 months, and is in advanced talks to get up to 1 billion euros ($1.2 billion) more, he added.

Capital Energy hired Goldman Sachs and UBS to advise it on the potential share sale, people familiar with the matter have said. Goldman Sachs declined to comment. UBS could not immediately be reached for comment.

After heady rises in 2020, some clean energy stocks have flagged this year, partly linked to a rise in government bond yields taking some steam out of growth stocks.

Larger Spanish conglomerate Acciona plans to hive off and sell shares in its energy unit in the coming months, and oil and gas group Repsol wants to list or sell a stake in its low-carbon business.

Capital Energy currently operates one wind farm and one solar park, with a combined generation capacity of 64 megawatts.

($1 = 0.8487 euros) (Reporting by Isla Binnie. Editing by Mark Potter)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ACCIONA S.A. -0.29% 139.8 Delayed Quote.20.14%
GRENERGY RENOVABLES, S.A. -3.70% 26 Delayed Quote.-30.41%
REPSOL S.A. -3.92% 9.85 Delayed Quote.24.27%
S&P GSCI GOLD INDEX 0.37% 1035.399 Delayed Quote.-6.57%
SOLARIA ENERGIA Y MEDIO AMBIENTE, S.A. -6.12% 16.645 Delayed Quote.-25.00%
THE GOLDMAN SACHS GROUP, INC. -3.30% 331.7 Delayed Quote.30.10%
UBS GROUP AG -2.64% 14.22 Delayed Quote.17.12%
All news about GRENERGY RENOVABLES, S.A.
04/05Capital Energy bows out of Spanish green IPO race
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Financials
Sales 2021 136 M 164 M 164 M
Net income 2021 21,1 M 25,4 M 25,4 M
Net Debt 2021 293 M 354 M 354 M
P/E ratio 2021 37,1x
Yield 2021 -
Capitalization 741 M 891 M 894 M
EV / Sales 2021 7,60x
EV / Sales 2022 6,33x
Nbr of Employees 161
Free-Float 26,4%
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Technical analysis trends GRENERGY RENOVABLES, S.A.
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TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 6
Average target price 47,27 €
Last Close Price 27,00 €
Spread / Highest target 122%
Spread / Average Target 75,1%
Spread / Lowest Target 48,1%
EPS Revisions
Managers and Directors
NameTitle
David Ruiz de Andrés Chairman & Chief Executive Officer
Antonio Francisco Jiménez Alarcón Chief Financial Officer & Executive Director
Nicolás Chester Bergareche Mendoza Independent Director
Ana Cristina Peralta Moreno Lead Independent Director
María del Rocío Hortigüela Esturillo Independent Director
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