Up to 80% higher than the initial target will be the revenues of PPC from the share capital increase that is completed this week, as a result of the high demand and the positive reception from the purchase of the offered shares of the company.
According to the decision of the board of directors of the company that was taken on Friday night, from 130 to 150 million new shares will be issued with a sale price will be from 8.50 euros to 9 euros. Thus, the funds that will be raised range from 1.105 billion euros to 1.350 billion euros, compared to 750 million which was the initial target of the company.
It is recalled that the agreement with Selath Holdings (CVC) for the acquisition of 10% stake in the share capital of PPC with the allocation of up to 395 million euros, which confirmed the climate for over-coverage of the issue at a price corresponding to its current market value. PPC.
The success of the issue increases PPC’s “firepower” for the implementation and financing of the development strategy, which mainly includes investments in renewable energy sources and acquisitions in the Balkans.
It is indicative that the decision of the Board of Directors of PPC on Friday, which approved the prospectus for the increase of the share capital, includes an authorization to the chairman and CEO, Mr. Georgios Stassis, “to further adjust and update the approval approved by the Board. Board of 23 September 2021 updated Strategic Plan of the Company, taking into account the amount of funds raised, in order to further strengthen the investment projects in Renewable Energy Sources and the Circular Economy, in order to adjust and further update the to the extent that it will be required, in the Prospectus ”.
Regarding the process of capital increase, the following is provided:
-Tomorrow Monday, the approval of the prospectus is expected from the Hellenic Capital Market Commission.
-The book of offers will open on Tuesday, November 2 and will close on Thursday, November 4.
-Priority in the distribution of shares will be the shareholders of PPC existing on November 2.
.
