Acciona Energía is one of the world’s leading pure renewable energy companies, with a total installed capacity of 11 GW across 16 countries as of today and targeting to reach 20 GW by 2025.
AZ Capital and STJ Advisors acted as financial advisors to Acciona on the successful IPO of Corporación Acciona Energías Renovables
(“Acciona Energía”). The offering, representing 17.25% of the share capital of Acciona Energía (assuming exercise of the over-allotment option), has amounted to c. €1.52bn (market cap of €8.8bn) and represents the largest IPO in Spain in the last 6 years and the largest European renewable energy IPO in the last 5 years. The offering volume, which was already covered within the first 24-hours of bookbuilding, ended up 2.4x oversubscribed at the pricing level (€26.73 per share). Purchase orders were over 80% allocated to high-quality Long-Only investors, with a long-term approach and ESG focus. The high-quality of the allocation was further displayed by a very healthy performance on the first day of trading with the share price going up by 7.3% and only 8% of the total deal size traded.