- Volatia SA gains €490 million for its energy goal.
- Voltalia’s shareholders will see the company issue 35.8 million new shares at €13.7 each.
Voltalia SA, a French company that operates renewable energy facilities, will carry out a €490 million capital increase to raise money to support its 2027 target of having at least 5 GW of capacity operational or under development.
The French company stated in a bourse statement that at least €450 million from the transaction is intended to develop new factories. It predicts that between €2.5 billion and €3 billion in investments will be required to reach the capacity goal for 2027.
Voltalia will issue 35.8 million new shares for €13.7 as part of a capital increase in cash with preferred subscription rights (PRS) among its shareholders. In exchange for their eight existing shares, holders with preferential subscription rights can purchase three additional shares.
The offering’s results will be public, and the new stock will begin trading on Euronext Paris.
The money raised will go toward possible acquisitions in Africa, Latin America, or Europe, as well as financing the growth of Voltalia’s services division and its aim to manage more than 8 GW of power plants on behalf of other parties.
Voltalia reported that 72.95% of the entire amount provided in the sale had€€ been committed to by subscribers. The company’s reference shareholder, Voltalia Investissement, has agreed to spend EUR 345 million, or 70.45% of the total volume. Proparco, a division of the French development organization Agence Francaise de Developpement (AFD), will make a EUR 12 million investment in contrast.