Trading in Enefit Green’s shares is expected to begin on the Baltic Main List of Nasdaq Tallinn on or about 21 October 2021. The base size of the offering is up to EUR 115 million, consisting of an issue of up to EUR 100 million by Enefit Green AS and sale of up to EUR 15 million by Eesti Energia AS. The size of the secondary shares to be sold in the offering may be upsized by up to EUR 60 million. In such case, the total deal size may equal up to EUR 175 million, corresponding up to 26.4% of all the shares in Enefit Green.
With the IPO, Enefit Green targets to raise approx. 100 million euros for the purposes of financing its development projects and potential new projects. In particular, Enefit Green plans to use the net proceeds of the IPO for the purposes of developing the wind and solar parks in its near-term pipeline of up to 600 MW.