OPDE manages to go public, but without bellows

OPDE manages to go public, but without bellows


Lucky the second time. OPDE managed to fulfill the dream of going public this Friday, but without mercy. Its stocks, which marked the first change at €4.79 per share, ended the day at €4.75 on Friday in charts set for their premiere. On this first day, investors crossed deals with a volume of 2.5 million titles, the equivalent of 11.9 million euros. Its valuation is thus 703 million euros after the implementation of the 200 million capital increase with which the company intends to finance its growth plans.

The renewable energy company will make its first debut on Spain’s Seniors Exchange of the year, taking the sting out of not being able to successfully complete the operation last year. Its premiere was not without controversy, having to be delayed by more than an hour due to errors in the documentation that the company sent to the CNMV. Specifically, the supervisor twice requested that the data sent be corrected, causing a delay in ringing. Sources familiar with the operation commented that there is no precedent for a delay for similar reasons in a debut on the floor.

The company managed to cover the €200 million capital raise in two days of roadshow demand, but eventually decided to set the starting price at the lower end of the €4.75 per share price range. Luis Cid, CEO of OPDE, emphasized this Friday that they decided to set the price at the lowest part “by thinking about what kind of investors we wanted to have in the future”.

OPDE is the first company to go public, with a section aimed at retail investors since Aena’s debut in 2015. Specifically, a package of eight million euros, which, according to the company, could be covered by being overwhelmed. As Cid explained, the company is aiming for long-term liquidity with this section aimed at retail investors. “From the start, we thought it made a lot of sense for us in terms of complementary demand,” he said.

The OPDE charts contrasted with the increases recorded by their peers throughout the day. Solaria was up 4.9%, followed by Grenergy, which was up 4%. Acciona Energy was more moderate at 2.5%, while Ecoener was up 1.7%. Definitely climbs higher than 0.5% of Capricorn.

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