Enefit Green launches initial public offering

The offer period will last until October 14, and the company expects to start trading in shares on the main list of the NASDAQ Tallinn Stock Exchange on October 21.

The size of the initial public offering (IPO) in Lithuania, Latvia and In Estonia will amount to 115 million. EUR: Enefit Green will issue new shares for a maximum of EUR 100 million. and its parent company Eesti Energia will sell its existing shares for a maximum of EUR 15 million. amount of EUR. Under this scenario, investors would be offered up to 17.3%. all shares in Enefit Green.

However, during the IPO, the supply of existing shares can be increased to 60 million. euros. In that case, investors would be offered up to 26.4% in total. of all Enefit Green shares for up to 175 million. euros, the company said in a statement.

According to the company, the aim of this IPO is to raise approximately 100 million euros to finance current and future Enefit Green projects. The main objective of the IPO is to use the proceeds for the development of wind and solar power plants (their total capacity is expected to reach 600 megawatts (MW) in the near future.

The offer of Enefit Green shares starts on October 5 at 10 am. and ends on October 14 at 2 p.m. Tallinn time. The company plans to publish the results of the offer and information on the distribution of shares on October 15.

The first trading day on the Nasdaq Tallinn Stock Exchange is expected to be October 21st.

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Estonian retail investors wishing to acquire shares in Enefit Green should contact Swedbank or LHV Pank or another account operator that maintains their securities account in the Estonian Securities Register and to apply for shares in accordance with the prospectus during the offer period.

Latvian and Lithuanian retail investors wishing to acquire shares in Enefit Green should contact a financial institution that is Nasdaq TallinnWhich maintains their securities accounts and to submit an application in a form acceptable to the financial institution in accordance with the prospectus during the offer period.

The offer price ranges from 2.45 to 3.15 euros. In the case of a retail offer, purchase orders should be submitted at the highest price in the range, ie EUR 3.15 per share. The final offer price will be determined through a separate book-building process and will be the same for both retail and institutional investors.

The IPO is organized byCitigroup Global Markets Europe AG“, „Nordea Bank and Swedbank. The main organizer of the retail offer is Swedbank, and the sales agent is LHV Pank.

Enefit Green’s legal advisors are Cleary Gottlieb Steen Hamilton and Ellex Raidla, banking legal advisors are Shearman & Sterling and Sorainen, and communications advisor is Agenda PR.

Enefit Green and Eesti Energia have set a standard limit of 180 days for major shareholders.

Enefit Green operates 22 wind farms, 38 solar power plants, four cogeneration plants, a pellet plant and one hydropower plant in Estonia, Lithuania, Latvia and Poland.

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