Ignitis Group commences trading as it targets renewables growth

Facebook
Twitter
LinkedIn
Reddit
Email
Image: Ignitis Group.

Utility and renewables developer Ignitis Group has marked its first day of trading on two separate stock exchanges, as it bids to target international renewables markets.

The Lithuanian, state-owned energy company witnessed its first day of trading on both the Main Trading List of Nasdaq Vilnius and the Main Market of the London Stock Exchange today, concluding an initial public offering (IPO) process launched earlier this year.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The company raised €450 million in gross proceeds – slightly lower than the €470 – €585 million range anticipated – which its investment prospectus said would be used to facilitate growth in both its networks and green generation segments, as well as for general corporate purposes.

Ignitis has placed the nascent but quickly-growing Polish solar market firmly in its crosshairs, acquiring a 170MW portfolio of projects from developer Sun Investment Group last month.

The offer price was set at €22.5 per share, but shares in the company slipped below that in early trading and stood at €21.44 at the time of writing.

Darius Maikštėnas, CEO at Ignitis, said today marked a “pivotal moment” for the company.

“Together with our new individual and institutional shareholders in the Baltics and around the world, we will begin our journey as a listed company, bolstering our long-term green energy strategy.

“Today’s milestone reflects our ambition and commitment to delivering a greener and cleaner future for everyone,” he said.

Read Next

Subscribe to Newsletter

Upcoming Events

Solar Media Events
April 10, 2024
Dallas, Texas USA
Solar Media Events
April 17, 2024
Lisbon, Portugal
Solar Media Events
May 1, 2024
Dallas, Texas
Solar Media Events
May 21, 2024
Napa, USA