KTG Energie AG, a subsidiary of KTG Agrar AG, said it has set the price for its public offering at 13.80 euros per share in conjunction with lead manager WGZ Bank and the incumbent shareholder. KTG Energie is offering 2.7 million shares for subscription, which translates into gross proceeds of up to 37.26 million euros from the issue.
The net proceeds from the issue will serve to fund the company's continued growth, KTG Energie noted.
Dr. Thomas Berger, chief executive officer of KTG Energie, stated, "Our IPO offers investors exposure to a well-established business model with highly predictable earnings in the renewable energies space. Over the past years the company has continued to grow and today operates biogas plants with a production capacity of 22.4 megawatts (MW) under full load. A number of other plants are in the start-up or construction phase; the 30 MW mark will be clearly exceeded during the course of 2012."
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