Renewables

Fintel Energija to launch IPO on August 1

Photo: Fintel Energija

Published

July 25, 2018

Country

Comments

comments icon

0

Share

Published:

July 25, 2018

Country:

Comments:

comments icon

0

Share

Belgrade-based renewable energy company Fintel Energija, a subsidiary of Italy’s Fintel Energia, published the prospectus on July 25 for its initial public offering (IPO) on the Belgrade Stock Exchange (BELEX).

Fintel Energija, which has a total of 25 million issued shares, will now offer 6.5 million shares at RSD 500 (about EUR 4.24) as part of the IPO. The subscription will begin on August 1 and last until October 29, with Belgrade-based brokerage firm M&V Investments as an underwriter, the company said, local media reported.

The IPO will be considered successful if at least 1.5 million new shares are sold, according to the prospectus. Once the subscription process is complete, Fintel Energija will list all of its shares – the existing and newly issued ones – on the prime segment of the BELEX regulated market.

Fintel Energija has majority stakes in MK-Fintel Wind and MK-Fintel Wind Holding, its joint ventures with Serbian agribusiness-to-banking company MK Group, owned by businessman Miodrag Kostić.

The prospectus notes that Fintel Energija is Serbia’s leading independent renewable energy producer and the country’s second-largest renewable energy company, behind state power utility Elektroprivreda Srbije (EPS), the incumbent company on the market.

Wind farm portfolio

MK-Fintel Wind controls the 69 MW Košava phase 1 wind farm whose construction started in June last year. At the end of February, MK-Fintel Wind announced that it had secured EUR 81.5 million in lending for the completion of the Košava phase 1 wind farm, a project worth EUR 118 million, whose construction is expected to wrap up in late 2019.

MK-Fintel Wind Holding owns the other wind farms in Serbia built by Fintel Energia Group and MK Holding. The companies opened the 9.9 MW Kula wind farm, Serbia’s first, at the end of 2015, and the 6.6 MW La Piccolina wind farm in October 2016.

Fintel Energija’s pipeline includes seven more wind farms in various stages of development in Serbia.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

Bulgaria IBEX guarantees of origin market

Bulgaria’s IBEX launches guarantees of origin market

09 May 2025 - The first four participants registered last month at the guarantees of origin platform of the Independent Bulgarian Energy Exchange (IBEX)

Major offshore wind projects shelved in another blow to industry

Major offshore wind projects shelved in another blow to industry

09 May 2025 - Ørsted decided to halt its Hornsea 4 project in the UK, while the US stopped the construction of Equinor's Empire Wind 1 facility

Serbia EPS PPAs wind parks Alibunar 1 Alibunar 2

Serbia’s EPS signs PPAs for wind parks Alibunar 1, Alibunar 2

08 May 2025 - Serbia's state-owned Elektroprivreda Srbije will offtake electricity from future wind parks Alibunar 1 and Alibunar 2, of 168 MW in total.

Serbia’s TSO EMS signs grid connection contracts for 11 renewable power plants

08 May 2025 - TSO Elektromreža Srbije said the contracts were signed after the second interval for the preparation of grid connection studies