Vieira de Almeida & Associados (VdA) assisted GreenVolt – Energias Renováveis, S.A. (“GreenVolt”) in the successful €100M rights issue and in the listing of the new shares in Euronext Lisbon regulated market scheduled to occur on 11 July, following the public offering thereof, targeting existing shareholders in the exercise of their pre-emption rights and investors acquiring such rights (the “Offer”).

After having assisted GreenVolt in its successful IPO in July 2021 and in the inaugural green bond issue in November 2021, VdA is very proud to have represented GreenVolt in this transaction, completed on a record time and roughly within two months, enabling GreenVolt to increase its share capital in a volatile and challenging environment and hence strengthen the level of its own funds to continue pursuing its growth plans.

The VdA assisting on these assignment were led by partners Hugo Moredo Santos and Pedro Cassiano Santos (B&F, Capital Markets) and Ana Luís de Sousa (Energy), with a vast team of lawyers from all these departments, comprising in total more than 10 other associates, including Francisca César Machado, Sara Santos Dias, Inês Freire da Veiga, Diogo Bordeira Neves and João Ramalho Dias (B&F, Capital Markets), Maria Gorjão Henriques (Energy), Rita Pereira Abreu (Tax), and Vanessa Cardoso Pires and Carolina Tita Maurício (Corporate Services Unit).

 

Offer highlights

  • The Offer consisted of a rights issue involving new ordinary shares to be issued by GreenVolt for subscription by existing shareholders in the exercise of their pre-emption rights and investors acquiring such rights, representing approximately 12.785 percent of the share capital of GreenVolt following the full subscription of the share capital increase (17,792,576 new shares).
  • The subscription price was set at €5.62 each per new share, hence corresponding to proceeds in the amount of €99,994,277.12.
  • The total demand for this share capital increase amounted to circa 186.8 per cent. of the Offer size.
  • GreenVolt submitted a request to Euronext Lisbon for the admission to trading of all new shares on the Euronext Lisbon Regulated Market, which is expected to occur on or about 11 July 2022, following the registration of the share capital increase with the commercial registry office.
  • This transaction was coordinated by BNP PARIBAS and Banco Santander, S.A., acting as Joint Global Coordinators, with CaixaBank, S.A., JB Capital Markets, S.A.U., and Mediobanca Banca di Credito Finanziario S.p.A. also being members of the banking syndicate, as well as Caixa – Banco de Investimento, S.A., which additionally acted as financial intermediary. Lazard acted as financial advisor. Vieira de Almeida as legal counsel of GreenVolt. PLMJ acted as legal counsel of the banking syndicate.
  • The Prospectus as approved by the Portuguese Securities Market Commission (Comissão do Mercado de Valores Mobiliários, the “CMVM”), is available in the CMVM’s website (www.cmvm.pt) and in GreenVolt’s corporate website (www.greenvolt.pt).