After the Board of Directors approval, Gamesa announced today to the Spanish Securities Regulator (CNMV) a share capital increase of a maximum of 25,388,070 shares, equivalent to approximately 9.99% of the current capital of the company through an accelerated book-building.
This operation allows the Company a flexible way to access business opportunities available in the wind power sector, in an environment with an additional growth to the one expected in the 2013-2015 Business Plan, maintaining a solid balance and optimizing its equity structure.
These new opportunities are related to improving growth prospects in the onshore market -especially in emerging countries, where Gamesa has a good competitive position-, in addition to the entry into the offshore segment through the joint venture with Areva.
The share capital increase, in which several international banks participate as placement entities and underwriters, is addressed solely to qualified and institutional investors. The issue price, and the final number of shares to be issued and the execution time will be determined after the end of the book-building process, which is expected to close tomorrow 9th September.
http://www.evwind.es/2014/09/08/gamesa-wind-energy-launches-accelerated-share-capital-increase/47312