MADRID – Spanish renewable power group Opdenergy plans to start trading on July 22 following the approval of its initial public offering by the supervisor, the company said in a statement late on Wednesday.
Opdenergy’s is planning to set its final price on July 21 after previously determining a price range at between 4.75 euros and 5.40 euros ($4.75 and $5.40) per share, valuing the business at up to 572 million euros ($572.5 million) before the offering of new shares, the company said.
Opdenergy, which operates solar parks in Europe and Latin America, hopes to raise 200 million euros to finance its business plan through 2025.
($1 = 0.9994 euros)
(Reporting by Christina Thykjaer; editing by Jesús Aguado)