Fintel Energija in an IPO

After months of preparation Fintel Energija (a subsidiary of Italian based Fintel Energia Group SpA) started an Initial Public Offering (IPO) on the Belgrade Stock Exchange. Fintel Energija operates two wind farms in Serbia: Kula (9.9 MW) and La Piccolina (6.6 MW) and is involved in the construction process of the 69 MW Košava 1 wind farm, estimated to cost €117 million. Fintel also plans to develop the Košava phase 2 with an envisioned 79.8 MW of installed capacity. Current IPO is intended to raise capital for the second phase of the project. The company will offer a total 6,500,000 shares for sale at a price of 4.24 euros per share hoping to raise €27 million..

Source: SEE News