Terna Energy to raise capital via private placement

Terna Energy has decided to boost its capital by €50.1 million through private placement.

The decision will officially be taken at a general assembly on September 1 at company headquarters. If approved, the company will issue 4,556,757 common shares of a nominal value of €0.30 each, which will be distributed via private placement at an expected price of at least €11.

There will be no first preference for existing shareholders. The target audience is international investors, in order to improve the spread and tradeability of the shares, the company board decided.

A similar transaction in January 2018, had "extremely positive results in the stock's tradeability and market value," a board report says. The sale price is close to the stock's historic highs and the company expects to draw €50.1 million, which will be invested mostly in three wind energy parks on the...