Aquila European Renewables, a London-listed renewable energy investment company focused on projects in Europe, is set to take out a secondary quotation on the Irish stock market next Monday, as it seeks to improve its appeal to investors across the continent.
The company, which has a market valuation of close to £280 million , said that the secondary listing on the junior Euronext Growth Dublin market, would not involve raising any fresh funds, it said in a statement on Thursday. Aquila European Renewables, which floated in London in May 2019, has a wind, solar and hydro power portfolio with a capacity of 463.8 megawatts across Scandinavia, Greece, Spain and Portugal at the end of June, according to its latest annual report. It stated at the time of the initial public offering that it would target projects in the Republic.
“Given the diverse European focus of the company’s strategy and its euro denomination, we believe a European listing will further enhance the company’s marketability and appeal in Europe, thereby also potentially enhancing liquidity of our underlying shares and providing growth opportunities,” Ian Nolan, the company’s chairman, said in the statement.