trending Market Intelligence /marketintelligence/en/news-insights/trending/n0e4izuh2kmt-m5rqzdrfg2 content esgSubNav
In This List

French renewable energy firm Neoen prices €628M IPO

Blog

Q&A: Datacenters: Energy Hogs or Sustainability Helpers?

Blog

Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings

Video

S&P Capital IQ Pro | Powered by Expert Insights

451 Research Podcast

Next in Tech | Episode 41: IoT's Role in Energy and Utilities


French renewable energy firm Neoen prices €628M IPO

French renewable energy developer Neoen SA priced an initial public offering of 38,073,521 common shares at €16.50 per share for gross proceeds of approximately €628.2 million.

The total capital may go up to €697 million if the overallotment option is exercised in full by Nov. 15. Following the completion of the IPO, Neoen's total market capital will be approximately €1.4 billion.

The company said it will issue €623.8 million worth of 37,804,042 shares, or 99% of the IPO, to international investors. The remaining €4.4 million worth of 269,479 shares will be allocated to the French public offering.

The gross proceeds include approximately €450 million of newly issued shares and approximately €178 million of existing shares sold by FPCI Capenergie II and FPCI Fonds ETI 2020, according to an Oct. 16 news release.

Impala, Neoen's majority shareholder, has subscribed for approximately €169 million of shares and will remain the company's controlling shareholder.

The shares will begin trading on the Euronext Paris market on Oct. 17 on a when-issued basis, followed by settlement and delivery of the shares on Oct. 18.