17 October 2020

Soltec Power Holdings receives on the first day of the offering sufficient non-binding proposals for subscription of shares to cover the initial offer within the indicative price range

  • Yesterday, Friday 16 October, on the first day of the demand-side prospecting process for Soltec Power Holdings’ shares, non-binding subscription proposals were received for a sufficient volume to cover the initial offer within the indicative and non-binding price range established by the company and the global coordinators of the transaction
  • As planned, the roadshow will continue until 27 October
  • The final price of the company’s shares offered is expected to be set on 27 October and the shares will be admitted to negotiation on the Spanish stock exchanges through the Continuous Market of the Spanish Stock Exchange on 29 October
  • The interest shown by investors clearly supports the company’s growth plans

Soltec Power Holdings, S.A. (“Soltec Power Holdings” or the “Company“), has received on the first day of the demand-side prospecting process, sufficient non-binding subscription proposals to cover the initial subscription offer for the Company’s shares within the indicative and non-binding price range established by the Company and the global coordinators of the transaction. This demonstrates the great interest of qualified investors in participating in the process of the Company’s IPO and is an important support for its growth plans.

Soltec Power Holdings will issue shares for an initial amount of EUR 150 million. The offer will be extendable into shares for an additional amount of EUR 15 million if the global coordinating entities exercise the over-allotment option granted by the Company’s majority shareholder

The investors then have until Tuesday 27 October to submit their non-binding subscription proposals, at which time the final price of the Company’s shares in the offer is expected to be set. Soltec Power Holdings’ shares are scheduled to be listed on the Barcelona, Bilbao, Madrid and Valencia Stock Exchanges, through the Stock Exchange Interconnection System or Continuous Market, on Thursday, October 29th.

The great success shown on the first day of the roadshow and the participation of several investors in the Soltec Power Holdings’ shareholding scheme demonstrate the attraction of the company in the institutional market and clearly support its plans for growth and development of its activities in the countries where it is already present. It also shows the confidence of international investors in the Spanish energy sector and in the investment opportunity offered by Soltec Power Holdings.

With this IPO, Soltec Power Holdings is strengthening and institutionalizing its relationship with its internal and external stakeholders, while expanding its shareholder base and diversifying its sources of financing. Furthermore, by becoming a listed company, Soltec Power Holdings also seeks to reinforce its role as a key player in the energy transition, placing its integrated and sustainable business model at its service.