Spanish renewables developer Opdenergy resurrects IPO plan – Reuters

Spanish renewable energy company Opdenergy Holding SA has restarted plans for an IPO in 2022 after postponing its move to go public earlier this year, Reuters reported Nov. 24, citing sources familiar with the matter.

In a May 5 stock market filing, Opdenergy, which was looking to raise €375 million, cited "challenging market conditions," in particular for renewable energy companies, as why it postponed its listing. Fellow Spanish renewable energy company Capital Energy SA also put off its IPO to wait out the slump.

Reuters, citing sources, said that the company has tapped Barclays and Santander to help arrange a possible IPO. One source told Reuters that Societe Generale is also working on the listing, which is expected to take place in 2022 if market conditions allow.

The sources told Reuters that Opdenergy will potentially aim to raise less than the €375 million it originally planned before the company postponed its original plan.