- Share issue generates 16.2 million euros in gross proceeds
- Financial base strengthened to build more large turnkey projects internationally
- Share issue was 2.3 times oversubscribed
ABO Wind has generated gross proceeds of 16.2 million euros in the largest capital increase in the company's history. Bankhaus Metzler successfully placed the issue as sole bookrunner with selected institutional investors and achieved a 2.3-fold oversubscription. The approximately 30 new shareholders include internationally renowned investment companies. With the 550,000 new shares, the total number of shares increases to 9,220,893.
The placement price for the new shares was 29.50 euros and was 4.5 percent below the average Xetra closing price on the ten trading days preceding the Managing Board's decision to increase the capital.
As a result of the capital increase, the share of the families of the two company founders will decrease from 55 to 52 percent. The founders Dr. Jochen Ahn and Matthias Bockholt are members of the four-member Managing Board. "ABO Wind will permanently remain owner-managed," says Matthias Bockholt.
With the latest capital increase, the company's balanced equity will rise to around 140 million euros at the end of the year. "This increases our opportunities to pre-finance construction phases and to connect even very large wind and solar farms to the grid on a turnkey basis," says Bockholt. To develop projects until they are ready for construction is the central part of ABO Wind’s value chain. The company usually wants to build the projects as general contractor in order to sell them as turnkey projects. To date, ABO Wind has connected renewable power plants with a total capacity of around 1,600 megawatts to the grid and has also sold projects with a capacity of 2,000 megawatts at an earlier stage of development.
Currently, around 700 employees worldwide are working on new projects with a capacity of more than 12,000 megawatts. These include many large projects with a capacity of more than 100 megawatts, for example in Finland or Spain, which will be ready to build in the short and medium term and will then enter the construction phase. ABO Wind is confident that, with the help of its strengthened capital base, the company's success will increase significantly in the coming financial years, thus living up to the great trust placed in the company by new and existing shareholders alike.
ABO Wind successfully develops and builds wind and solar energy projects. Founded in 1996, the Germany-based company has realised 3,500 megawatts of capacity to date, more than 1,500 of which it has delivered as turnkey installations. The company’s annual investment amounts to 500 million euros. Around 700 employees in 16 countries work with enthusiasm on the planning, financing, construction, operational management and maintenance of plants for a sustainable energy supply.