ABO Wind’s Largest Capital Increase to Date Opens Up New Opportunities
ABO Wind has generated gross proceeds of 16.2 million euros in the largest capital increase in the company’s history. Bankhaus Metzler successfully placed the issue as sole bookrunner with selected institutional investors and achieved a 2.3-fold oversubscription. The approximately 30 new shareholders include internationally renowned investment companies. With the 550,000 new shares, the total number of shares increases to 9,220,893.
The placement price for the new shares was 29.50 euros and was 4.5 percent below the average Xetra closing price on the ten trading days preceding the Managing Board’s decision to increase the capital.
As a result of the capital increase, the share of the families of the two company founders will decrease from 55 to 52 percent. The founders Dr. Jochen Ahn and Matthias Bockholt are members of the four-member Managing Board.
“ABO Wind will permanently remain owner-managed,” says Matthias Bockholt.
With the latest capital increase, the company’s balanced equity will rise to around 140 million euros at the end of the year.
“This increases our opportunities to pre-finance construction phases and to connect even very large wind and solar farms to the grid on a turnkey basis,” says Bockholt.
To develop projects until they are ready for construction is the central part of ABO Wind’s value chain. The company usually wants to build the projects as general contractor in order to sell them as turnkey projects. To date, ABO Wind has connected renewable power plants with a total capacity of around 1,600 megawatts to the grid and has also sold projects with a capacity of 2,000 megawatts at an earlier stage of development.
Currently, around 700 employees worldwide are working on new projects with a capacity of more than 12,000 megawatts. These include many large projects with a capacity of more than 100 megawatts, for example in Finland or Spain, which will be ready to build in the short and medium term and will then enter the construction phase. ABO Wind is confident that, with the help of its strengthened capital base, the company’s success will increase significantly in the coming financial years, thus living up to the great trust placed in the company by new and existing shareholders alike.