SUNNY OUTLOOK: Solarpack’s future looks bright in Spain

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Solarpack’s future looks bright. Credit: Solarpack

SPANISH solar company Solarpack were due to launch on the stock market yesterday (December 5), the National Securities Market Commission has revealed.

Solarpack will float 38.5 per cent of its shares for purchase by institutional investors, giving it a market capitalisation of between €260 and €306 million.

The company has set an indicative and non-binding price range of €8-10 per share.

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Funds raised will be invested in acquiring operating assets in Spain, in the company’s wide portfolio of projects, and in the development of new ones.

Solarpack is continuing the development and construction of the Granja project in Chile, the Monclova and Grullas plants in Spain and the KA2 project in India.

It is the fifth company to go public in Spain this year, and Solarpack now has a presence in Spain, Chile, Peru, Uruguay, Colombia, USA, South Africa, Malaysia, Vietnam and India.

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