Voltalia, the French clean energy projects developer, has signed an agreement for an equity line aimed at increasing the liquidity of its shares.
Voltalia develops wind, solar, hydro and biomass with a current installed capacity of 271 megawatts under operation in France, Brazil, Greece, French Guiana and Morocco.
Under the agreement, the company issued a total of 1,000,000 warrants, allowing subscription to an equal amount of equity shares. Kepler Chevreux, acting as a financial broker that will not remain at the company’s share capital, will underwrite the subscription of the shares on a firm commitment basis. Should all warrants be exercised, a total of 1,000,000 new shares will be issued, representing a total amount of EUR 10 million (US$ 11.13 million). The share of free float would thus increase from 14.7% to 17.8% of the company’s share capital.
“The implementation of this equity line will enlarge our free float, hence contribute to progressively enhance our shares’ liquidity. It is a key element in the shaping of our stock market presence and it will give us access to a broader range of investors likely to support our strong growth,” said Sebastien Clerc, CEO of Voltalia.