Blue Elephant Energy Prepares For IPO

Blue Elephant Energy AG said that it is planning an initial public offering
on the regulated market (Prime Standard) of the Frankfurt Stock Exchange in third-quarter 2021.

The company plans to issue new shares from a capital increase and is targeting gross proceeds of about 150 million euros. The company will use the net proceeds to finance the acquisition of new solar parks and wind farms in accordance with the company's investment strategy and investment criteria.

None of the existing shareholders intends to sell shares in the offering - except for granting over-allotment shares comprising 15% of the new shares sold in the IPO (greenshoe option). All existing shareholders and the Company agreed to a lock-up period of 6 months, the company said.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Sturtevant, Wisconsin-based BRP U.S. Inc. is recalling around 20 models of Side-by-Side vehicles citing fire risk, the U.S. Consumer Product Safety Commission. The recall involves about 34,400 units of Model Years 2020 and 2021 Can-AM Defender HD10 side-by-side vehicles. While reporting financial results for the second quarter on Friday, technology company Honeywell international Inc. (HON) raised its adjusted earnings and sales guidance for the full-year 2021, based on the second-quarter performance and management's outlook for the remainder of the year. For fiscal... Shares of Vodafone Group Plc were gaining around 2 percent in the morning trading in London after the British telecom major reported higher revenues in its first quarter. Looking ahead, the company said it is on track to deliver fiscal year 2022 guidance, with Adjusted EBITDAaL expected to be between 15.0 billion euros - 15.4 billion euros and Adjusted free cash flow of at least 5.2 billion euros
Follow RTT