Ecoener: Lacks power in market debut

Ecoener SA

04/05/2021 11:46

** Spain's Ecoener  ECNER.MC  falls 4.4% on its debut on the
Madrid stock market on Tuesday
    ** Spanish renewable energy company opened at 5.64 euros per
share, 4.4% lower than the 5.9 euros per share IPO rice 
    ** The week prior to its listing the green energy firm
slashed the target size of its share issue by almost half, 
aiming for a maximum of 110 million euros ($132.04 million) from
its previous plan to raise up to 200 million euros  urn:newsml:reuters.com:*:nL8N2MK3BG 
    ** Last Friday, the company said demand had been limited for
its initial public offering adding it had agreed to sell its
shares at the low end of a targeted range urn:newsml:reuters.com:*:nL1N2MN0LI
    ** Ecoener's flotation is technically the first IPO in
Madrid since solar generation equipment maker Soltec  SOLT.ST 
in October and after Linea Directa  LDA.MC  conducted a direct
market listing on April 29
    ** In contrast with Ecoener's opening, Spain's non-live
insurance Linea Directa shined on its debut on the Madrid stock
market on Thursday with a jump close to 30%  urn:newsml:reuters.com:*:nL8N2MK62Z
    ** The stock slightly recovered to -2.71% and 5.74
euros/share at 10.40 GMT


($1 = 0.8331 euros)

 (Aida.pelaez-fernandez@thomsonreuters.com)