Greenvolt capital increase: demand for Altri rights is 1.43 times higher than supply – Bolsa

Altri sold all subscription rights to the Greenvolt capital increase that were available on the two presentation days. The company decided not to pursue the energy capital increase, and accordingly reduce the position it occupies, and sold its rights to shareholders. Demand was 1.43 times higher than supply, according to data released to Securities Market Authority (CMVM).

“The public offer to sell 23,154,783 rights issue shares of Greenvolt – Energias Renováveis, SA, launched by Altri and Caima and accepted on June 21 and 22, has been fully accepted by the respective recipients (Altri shareholders),” it announced. “The demand for rights in this show has exceeded the thing in question by 1.43 times.”

Greenvolt’s capital increase is underway until July 4th, along with the start of negotiation for the rights to subscribe for new shares to be issued by the company led by João Manso Neto. Altri, the renewable energy company’s largest shareholder (with 19.08%) immediately indicated that it would not accompany the process, and put up for sale more than 23 million subscription rights between Monday and Wednesday.

The paper company gave shareholders the possibility to buy the rights at a price of 0.13 euros, at a discount compared to the rights to be traded on the stock exchange. This Thursday, rights closed the session in 0.1755 euros each. By closing the sale of all rights, Altri managed to make about three million euros.

The capital increase, aimed at raising €100 million, is aimed at existing Greenvolt shareholders, at €5.62 per share, but other investors will also be able to participate by acquiring subscription rights (if they buy rights). New share with a subscription factor of 0.14659, which is approximately seven (6,822) shares currently owned entitle the purchase of new share at €5.62.

(news updated at 17:40)