Shares in Spanish renewables firm Ecoener fall on market debut

Ecoener SA

04/05/2021 11:38

MADRID, May 4 (Reuters) - Shares in Spanish renewable energy
group Ecoener  ECNER.MC  fell on their market debut on Tuesday,
a potentially sobering sign for companies looking to do similar
deals in the sector, after the firm slashed the size of the deal
due to limited appetite.
    The stock fell as much as 4% shortly after trading started,
taking it below the 5.90 euros pricing which gave it a market
value of 336 million euros ($403.3 million) last week.
    Ecoener cut the size of the share offering despite global
investor interest in businesses involved in generating energy
from renewable sources to help cut carbon emissions.
 urn:newsml:reuters.com:*:nL1N2ML1OX
    It had originally planned to raise up to 200 million euros
to fund the construction of more facilities like wind farms and
solar plants, to add to a portfolio that is mainly located in
Spain with some assets in Latin America, but ended up raising
half that.  urn:newsml:reuters.com:*:nL1N2MN0LI ($1 = 0.8331 euros)

 (Reporting by Isla Binnie, editing by Andrei Khalip)
 ((isla.binnie@thomsonreuters.com; +39 06 8522 4392; Reuters
Messaging: isla.binnie.thomsonreuters.com@reuters.net))