EiDF shares collapsed again this Tuesday on the second day of their listing on BME Growth after being suspended for more than four and a half months. The company’s value in the stock market fell 86.4% in two days. He achieved that 70% in his debut yesterday. The value of its shares rose from 29.76 euros on the stock market in April to 4.05 euros at today’s close. While the company’s value in the stock market was 1 billion 700 million euros, it closed the day with 234 million euros.
The company’s shares started the day with a rise, but soon fell again. And analysts had already warned yesterday that investors are losing confidence in him. This meant a large number of sell orders (176.303), far from buying (67,238). EiDF embroiled in a scandal that calls into question its good practices. Two reports from its auditors, first from PwC and then from Deloitte, which the same company hired because of inconsistencies with the previous one’s results, pointed to allegations of falsification of contracts and invoices at the direction of the CEO. Fernando Romero.
The company needs to renew its Executive staff, Rosemary was incorporated to attempt to reopen the value of its shares to the public. It will do so within a maximum period of six months as submitted to the CNMV. But some analysts warn that in the process, investors may shift their confidence to other photovoltaic energy companies. Soltec, Ecoener and Opdenergy.
On April 14, the National Securities Market Commission (CNMV) suspended the listing of the EiDF for allegedly failing to provide the required information. The supervisor accused him of skipping “very relevant” aspects of his status. And last Thursday, he publicly requested more information. CNMV understands that the company has taken adequate steps to lift the suspension, but its results on the exchange continue to be uploaded to it.
The biggest economic blow to these declines was its founder and CEO, who owns 72.1% of the shares through Prosol Energía. But it also affected Alejandro Alordafrom the founding family of Muebles Kettal, which currently owns 7.6% of the shares. Sergio Palmerois the founder of ODF, which is currently owned by the group and owns a 6.6% stake. 13.5% is controlled by minority shareholders.