€700m mainstream wants an IPO or sale to investors

  • €700m mainstream wants an IPO or sale to investors
    Independent.t. E.
    Main renewable energy, Eddie O’connor said that “remains committed to” providing few exit options for shareholders which could lead to an IPO or selling the business.
    https://www.independent.ie/business/irish/700m-mainstream-wants-ipo-or-trade-sale-for-investors-37251735.html
    https://www.independent.ie/business/irish/article37251789.ece/e30de/AUTOCROP/h342/2018-04-23_bus_40335649_I1.JPG

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Main renewable energy, Eddie O’connor said that “remains committed to” providing few exit options for shareholders which could lead to an IPO or selling the business.

The company creates a black market, to provide liquidity for investors and the repurchase of shares of the two institutional investors.

After this transaction, the company believes that it will cost €700 million, shareholders were told in the letter outlining the plans of the “gray” market.

“The company remains committed to maximizing shareholder value and providing liquidity for all shareholders. This liquidity can be in the form of sale of some or all of the company’s business, bringing capital for further stock repurchase program, the company should choose to do so,” the letter reads, referring to previous statements that in the future an IPO is considered.

As part of the grey market plan, the company allocates EUR 25 million for the repurchase of shares from investors in addition to the two institutions, “Barclays” and “Marubeni”.

Although the grey market is an informal marketplace – will boost liquidity for shareholders compared to the current situation, the stock market listing would be selling stock is much easier.

The mainstream is cash after the sale on Neart Gaoithe, a massive Scottish offshore wind farm project to the French giant EDF. It will be the best part of €400m for the promotion of its corporate strategy after the buyout.

“As a company-Builder, the Commission does not see the account as a long-term holder of assets,” the letter reads. The firm plans to sell their projects are long-term investors such as pension funds.

“Greatly improved the financing of the installation, the company can now selectively to choose the exit point based on the optimal values that can be any time from achieving fully agreed with the draft of the PPA (contract for the sale of electricity), pre-construction … or work.”

The company said that its most valuable asset is a portfolio of 1,200 megawatts of wind and solar projects in Chile.

The letter was signed by O’connor, Chairman of the mainstream, and the mainstream’s chief Executive, Andy Kinsella. Or sell their shares in the grey market.

Investec to be assigned to control “gray” market.

The company also said that it paid €24.2 million to cancel the orders carried out by the Australian Bank macquarie. The Macquarie warrants gave the right to subscribe for public shares.

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