The owners of Mayoral bet on Audax Renovables
The investment exceeds 56 million euros and represents the taking of a 5.8% stake
The owners of the children's fashion firm Mayoral, through the family's business holding company, have acquired 5.8% of Audax Renovables for an amount that exceeds 56 million euros at €2.20/share.
The operation carried out through Global Portfolio Investments, SL, a subsidiary of Indumenta Pueri, SL, head of the family's business holding, is part of the investments being carried out by the Mayoral group, after its departure from MásMóvil and Duro Felguera, in recent months.
The purchase of shares has occurred through the sale by Eléctrica Nuriel, SLU, a company controlled by José Elías, President and main shareholder of Audax Renovables. In this way, José Elías consolidates his commitment to dilute his stake in Audax, retaining control of around 70% of the shareholding.
Mayoral, with various investments in its group, is now betting on other sectors such as renewable energies, a rising sector with strong expectations and a long history in the stock market both in the short, medium and long term and which is not new for Mayoral, who has been committed for years to renewable energies and caring for the environment as explained in their annual reports.
On the other hand, Mayoral, in this operation, assumes the existing lock-up commitment that José Elías maintains through Eléctrica Nuriel, as a consequence of the recent operation of issuing bonds eventually convertible into shares for an amount of 125 million euros that Audax took place at the end of last November. This successful operation was placed at 100% with international investors and with an excess demand that exceeded 2.4 times the supply.
Audax Renovables, which in recent months has been betting heavily on the generation of renewable energy, particularly photovoltaic, in Spain, Portugal and Italy, together with its current portfolio of projects, is once again expanding its base of prestigious investors, also trying to improve the liquidity of the security and taking a very significant step to consolidate its position in the market as the leading independent energy group in the SME segment with the capacity to lead the energy transition in Europe.
About Audax Renewables
The Group is the result of the merger by absorption between Audax Renovables, SA and its parent company, Audax Energía, SA, giving rise to an energy group whose activities focus on the production of renewable energy 100%, as well as the supply of electricity 100% renewable and gas.
Founded in the year 2000, in 2003 Audax Renovables began to be listed on the secondary market of the Barcelona Stock Exchange and in 2007 it was listed on the SIBE of the Madrid Stock Exchange. Currently, it is listed on the Spanish Continuous Market under the name (ticker) ADX.MC, having been incorporated into the IBEX SMALL CAP® index on March 23, 2020.
We are the leading energy group in the SME segment in Spain, guaranteeing an efficient supply of marketed energy through a process of vertical integration with renewable generation activity, with a solid financial position, and prepared to lead the energy transition in the European market.
The Group manages a portfolio of 91 MW generation projects in operation in Spain, France and Poland in wind farms. In addition, it has a portfolio of 320 MW photovoltaic projects in Spain, 15 MW of which will come into operation in the coming weeks, while another 40 MW are currently under construction. Likewise, the Group also has a 66 MW wind project under construction in Panama.
Audax Renovables, in its activity of marketing renewable 100% electricity and gas, is present in Spain, Portugal, Italy, Germany, Poland, Holland and Hungary, adding more than 515 thousand customers and 15 TWh supplied in 2020.
For more information, visit www.audaxrenovables.com
