BME Growth, the market segment specializing in midsize companies, is born this Monday with a new component. This is the Greening Group from Granada, which specializes in industrial photovoltaic self-consumption plants and has a presence along the value chain: energy installation, production and sales. The Greening Group debuts this Monday at a price of 4.92 euros per share, making the company worth a total of 143 million euros..
Headed by CEO Ignacio Salcedo, the group’s executives specialize in self-consumption. He will play the leading role in the bell that traditionally rings at the headquarters of the Madrid Stock Exchange.. The company is headquartered in Granada and was established in 2011 and operates in Spain, Europe (Germany, France and Italy), the United States, Mexico and Morocco.
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Sinia Renovables 10% owned by Banco SabadellWith the leap to BME Growth, the group aims to raise up to 23 million euros to fund its business plan. Funds raised in the IPO will be used to finance the strategic plan and accelerate the growth of the company. Ignacio Salcedo Ruiz is the largest shareholder with a participation of 36.84% of the company’s shares. Manuel Mateos Palacios holds 18.42 percent of titles, the same as Manuel Mateos Palacios.
Suspension of listing
Greening’s case contrasts with what happened to one of its main competitors, EiDF Solar from Pontevedra last Friday. His hiring at BME Growth was temporarily suspended when his new supervisor, PwC, refused., to sign their accounts. EiDF, with a market value of around 1,600 million euros (more than the Meliá Hotels group and almost as much as Indra or Sacyr), was about to leap into the Perpetual Market and initiate a capital increase of between 150 and 150 million euros. 180 million euros to fulfill growth projects. EiDF has practically the same business model as Greening: industrial self-consumption specialists present in the entire value chain (installation, production and commercialization) through the acquisition of specialist companies.