Acciona Energía advances 12% in its first fortnight. After the placement of the additional shares, its parent would control 82.75%. Acciona Energía Advances 12% In Its First Fortnight By Mark1199.
In yesterday’s session, Acciona Energía fulfilled two weeks since its debut on the stock market, the largest debut of the year for the Spanish market due to its capitalization . The shares of the renewable firm began trading with a placement price of 26.73 euros, which in its first session alone already rose almost 3%, to 27.50 euros.
With two weeks of travel on the market, Acciona Energía has recorded a rise of 12.23% since its premiere, to the 30 euros with which it closed the last session. Last Friday it even finished the day higher, at 30.6 euros.
After this time, sources close to the operation assure that before the end of the month the so-called green shoe will be executed . In other words, the underwriters are going to sell more shares than those initially awarded in the operation.
Specifically, the company had reserved an additional 15% to the 49.39 million titles placed. In other words, the capital in the hands of its parent company, Acciona, would drop to 82.75%, leaving the rest trading freely. This will allow the security to have more liquidity.
After these latest increases, Acciona Energía has a capitalization of more than 9,880 million euros, compared to the 8,800 with which it began its journey on the trading floor. Acciona Energía Advances 12% In Its First Fortnight By Mark1199
At the moment, only one investment firm, Renta 4, tracks the value, according to data from Bloomberg and FactSet, giving it a buy recommendation and setting its target price at 33.12 euros per share, which would still leave to a potential upward greater than 10% upon signing.
The rest of the sector
2021 is not being the year of clean energy, after an unrepentant 2020. Siemens Gamesa, Solaria and Iberdrola top the list of the worst performances in the sector on the Ibex, although in these two weeks some of these companies have managed to accumulate increases. Acciona Energía Advances 12% In Its First Fortnight By Mark1199.
Since Acciona’s renewables subsidiary went public, Siemens Gamesa has experienced the biggest drop in the sector, 20.13% after yesterday’s profit warning (see page 7). For its part, Solaria, the second worst performing value in the year, gained 6.89% in this period and Iberdrola also in green, managed to bounce 1.94%.
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