Shares in Acciona Energia have started trading on the Madrid, Barcelona, Bilbao and Valencia stock exchanges following the renewable energy company’s successful IPO.
Acciona Energia started trading with an initial market capitalisation of €8.8bn, in an offer that has been 2.4 times oversubscribed, the company said.
It added that the successful IPO will advance Acciona Energia’s mission to strengthen its position as a world-leading clean energy major with the capacity to accelerate the global energy transition.
The IPO will materially reduce the company’s cost of capital, allowing it to “unlock significant growth potential and deliver attractive returns for Acciona Energia’s new shareholders through a disciplined selection of projects with the right risk-return profile, backed by a strong business plan”.
Acciona Energia said that following the IPO, it has a plan to double its installed generating capacity to 20GW by 2025 and is positioned to grow in new technologies such as green hydrogen and energy storage.
Acciona Energia chair Jose Manuel Entrecanales said: “The listing of Acciona Energia marks a very important step in our growth story and will allow us to deliver on our ambition to be a leading enabler of the global green energy transition.
“The positive market reception the IPO has received underlines how we are perfectly placed to capitalise on the secular growth opportunities in the global clean energy sector over the coming years.”