Enlight Renewable Energy Ltd. (TASE: ENLT) is raising NIS 223 million on TASE in a share offering to institutional investors. There was demand for NIS 355 million. The closing price was set at NIS 2.33 per share, which will constitute the minimum price per share in the public offering, significantly higher than the bid’s opening price.
The orders will be included in the shelf prospectus to be published by Enlight, subject to the customary approvals. The company is planning to restrict the offering to a maximum of 957,558 units. The offering was underwritten by Poalim IBI Underwriting and Issuing Ltd. and Ami Barlev law firm provided the legal support.
Enlight announced last Tuesday that Midroog had decided to rate the company at A3.il with a stable outlook.
Enlight Renewable Energy develops, finances, establishes and operates clean power production plants from renewable energy sources. With operations in Israel and Europe, Enlight has founded and/or invested in over 130 projects with total capacity of over 350 MW over the past two years. The company’s revenue is growing thanks to long-term agreements entered on sale of power from existing plants concurrently with the development of additional, high potential projects.
Published by Globes, Israel business news - en.globes.co.il - on April 21, 2019
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