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7 Aug 2018

Renergetica / 07.08.2018

On 7 August 2018, Renergetica S.p.A. obtained the admission of its shares to the AIM Italia market organized and managed by Borsa Italiana. Negotiations began on 09 August 2018.

Integrae SIM acted as Nomad, Global Coordinator of Private Placement.

The total equivalent of the resources raised through the operation amounts to Euro 2,026,500, through the issuance of 1,351,000 newly issued shares without nominal value.

The placement price The unit price of the shares resulting from the placement was set at Euro 1.50; based on this price, the market capitalization at the beginning of the negotiations is equal to Euro 11,026,500.

The enterprise. Founded in 2008, Innovative SME has been operating in the renewable energy sector as a Developer and IPP since October 2016, covering all the value chain activities except the EPC. It has developed an important track record of development and expertise in all segments of renewable energy (in particular photovoltaic, wind, mini-hydro, and biomass). It is active in Italy, Chile, the United States, and Colombia.

Ultima Ricerca Renergetica

  • BREAKING NEWS – 21.04.2023
    In the press release of 22 March 2023, Renergetica SpA, a company operating in the development of projects from renewable sources on the international market listed on Euronext Growth Milan, announced the signing of an agreement concerning the sale of the stake in the Renergetica Chile SpA subsidiary to Exacto SpA, already a controlling shareholder of Renergetica with an 81.81% stake.

    Through this transaction, the Company is divesting its Latin American operations, which had driven the Group’s development, especially during the transition phase of the Italian market from the incentive-driven period to the current grid parity period; in recent times, the LATAM market has been progressively weakening compared to other countries and is no longer part of the development plans.

    As a result of the sale, the subsidiaries in Chile, Panama, and Colombia, which were part of Renergetica Chile SpA, leave the scope of consolidation. As anticipated in recent weeks in the March 22 press release the decision made by management stems from the desire to pursue the reorganization project in order to outline a new business strategy, which focuses on seeking new opportunities in terms of improving volumes and marginality that currently exist in the Italian and European markets.

    Exacto SpA, which holds a controlling stake in Renergetica, thus takes over the management of the subsidiary, also acquiring its outstanding financial receivables in the amount of approximately € 2.34 million and guaranteeing the payment of accounts receivable from all companies in the segment by 2025, amounting to an additional € 1.83 million. The transfer price of the equity investment is equal to the carrying value in Renergetica’s balance sheet, approximately € 0.35 million, while the total value of the transaction, also considering the expenses related to financial receivables, is equal to € 2.70 million.

    The transaction, therefore, allows the Company to increase its cash and cash equivalents, to be reinvested in the design activity in other geographical areas. Through a press release, Stefano Giusto, CEO of Renergetica, commented: “The decision to divest Renergetica Chile and Colombia has a clear objective: to support the growth of the Group in Europe and to promote, jointly, the entry of Renergetica into the market for the construction of renewable plants and as an Independent Power Producer (IPP), through the subsidiary Zaon. It is therefore a strategic operation that will allow Renergetica S.p.A. to focus its efforts on a market in great development such as the European one“.

    This agreement confirms our positive view of the Company. While waiting to evaluate the economic results of the 2022 fiscal the publication of which is postponed until May, we confirm our estimates: target price € 9.00, BUY rating and Medium risk
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