Green Enefit - Another IPO from the Baltics

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On October 6, 2021, I subscribed to about 32 shares of Enefit Green. That said - welcome to another interesting initial public offering from the Baltics. 

On Tuesday, October 5, 2021 Eesti Energia's renewable energy subsidiary Enefit Green published an initial public offering, listing and admission to trading prospectus and announced the offering of shares that will last until October 14, 2021. Trading in Enefit Green’s shares is expected to begin on the Baltic Main List of Nasdaq Tallinn on October 21, 2021.

I love investing in the Baltic Stock market as unlike the US stock market this is my home market, and literally I can knock on company doors. 

Enfit Green is already second IPO I'm taking part in this year (actually this month), as just a few days ago I subscribed to another IPO from RIga, see:  Why I'm investing in DelfinGroup IPO

So, what do we know about Enefit Green IPO:

The base size of the offering (the “IPO”) is up to EUR 115 million, consisting of an issue of new shares in the amount of up to EUR 100 million by Enefit Green and sale of secondary shares in the amount of up to EUR 15 million by Eesti Energia. In the base scenario, up to 17,3% of all the shares in Enefit Green are offered. The number 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 to up to EUR 175 million, corresponding to up to 26,4% of all the shares in Enefit Green. The shares are being offered publicly only in Estonia, Latvia and Lithuania.

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.

The offer period for Enefit Green shares starts on October 5, 2021 at 10:00 am Tallinn time and ends on October 14, 2021 at 2:00 pm Tallinn time. The results of the offering and the distribution of shares are planned to be announced on or about October 15, 2021, and the first day of trading in the shares on Nasdaq Tallinn Stock Exchange is expected to begin on or about October 21, 2021.

What are my thoughts on Enefit Green IPO?

Green energy is here for a stay, with more European Union regulation favoring wind and solar energy - I can only see companies like Enefit Green flourishing in the future. 

So I placed an order to buy 32 shares  at Enefit Green IPO / Baltic Nasdaq.  As the said IPO price is EUR 3.15 per share. I'm investing here just some shy EUR 100. Play money!