The National Securities Market Commission (CNMV) has suspended listing “with immediate effect prudently.” Galician energy company EiDF. In a statement, CNMV explains that it made this decision “while the company disseminates information regarding the process of preparing accounts and publishing audited financial information for the year ended December 31, 2022.” The company is listed on BME Growth and plans to make the leap to the Perpetual Market before the summer. Until last year, EiDF was audited by the Crowe firm and will change its auditor to PwC for the next three years. In addition, the group aimed to initiate a capital increase between 150 and 180 million euros to finance its growth. According to some sources, in order for the EiDF to return to market listing, it will need to re-declare its financial statements, which auditors will not accept.
The company currently has a market capitalization of approximately 1,500 million Euros., superior to Meliá and close to Sacyr and Indra. The company’s founder and CEO, Fernando Romero, owns 72% of the capital through Prosol Energía. In addition, Alejandro Alorda from Muebles Kettal’s founding family is among the shareholders with 7.6%, and Sergio Palmero, the founder of ODF, which is now integrated into the group, is also among the shareholders with 6.6%.
EiDF was launched in July 2021 at a price of 4.2 euros per share. and with a capitalization of 57 million. Given the phenomenal stock market development, it could take 10% of its current capitalization, about 160 million, to develop its business plan.