PLMJ advises banks in the Greenvolt IPO


PLMJ advised the Joint Global Coordinators - BNP Paribas and CaixaBank - on the IPO launched by GreenVolt. To handle this transaction, PLMJ set up a multidisciplinary team coordinated by Raquel Azevedo, (a partner in the banking and finance and capital markets area) and João Marques Mendes (a partner who is co-head of the Energy practice). The team also included André Figueiredo, the partner who heads the Banking and Finance and Capital Markets practice, and associates Rui Vasconcelos Pinto (Public Law), Alexandre Norinho de Oliveira (Capital Markets), Sara Asseiceiro (Capital Markets), Dinis Tracana (Tax) and Francisca Resende Gomes (Capital Markets).

GreenVolt is a renewable energy company and a subsidiary of Altri that has a 48% share in biomass. It recently announced an agreement to buy several assets, in particular Tilbury, which has biomass plants in the UK. It is also linked to solar and wind power through V-Ridium. The financial results obtained with this operation will be invested in those three areas of renewables: biomass, wind and solar.

The offer was based on a capital increase of EUR 130 million (up to 30,588,235 shares), aimed at institutional investors. In addition, a tranche of EUR 56 million is reserved for the shareholders of the Polish company V-Ridium, who will bring in assets to Greenvolt (11,200,000 shares). In total, including the 15% "greenshoe option", the new company on the national stock exchange may reach up to EUR 205,499,998.56 in this operation.

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