OPDE prepares to launch its IPO this week

OPDE will be the third Spanish company to go public in the next month. The renewables firm is preparing to launch its debut on the market this week, registering the ITF document, in which it will confirm its intention to debut in the market with a valuation of around 1,000 million.

This Tuesday Ecoener and Allfunds did the same. The first is a Galician renewables company, which expects to carry out a capital increase of 200 million to be valued at between 500 and 800 million. Allfunds, on the other hand, will debut on the Amsterdam Stock Exchange with a valuation of up to 8,000 million through a placement of 25% of the capital. The IPOs of Acciona Renovables and Factor Energía are also expected in the first half of the year, while that of Repsol’s green subsidiary, in principle, will be delayed until the end of this year or even the beginning of the next.

Santander and Citi have been hired as global coordinators of OPDE’s IPO. Bank of America, Berenberg and RBC are the bookrunners.

The intention of the company is to undertake a capital increase to finance its growth plan. Specifically, it tries to capture between 400 and 500 million to obtain a valuation of around 1,000 million.

OPDE is a firm specialized in renewable energies controlled by three shareholders: Gustavo Carrero Diez, Alejandro Javier Chaves Martínez and Francisco Javier Remacha Martínez. Luis Cid is the CEO.

Founded in 2005, the company has 350 MW in execution and operation. The goal is to reach 4.5 GW by 2023. It is present, in addition to Spain, in the US, Mexico, Chile, Italy and the United Kingdom.


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