Fintel Energija looking to collect EUR 27.5 million through IPO at Belgrade Stock Exchange

The shareholders of Fintel Energija have reached the decision on increasing the company's capital by RSD 3.5 billion (EUR 27.5 million) through the initial public offering (IPO) at the Belgrade Stock Exchange.

The shareholders have approved the capital increase through the listing on the Belgrade Stock Exchange premium list.

– The GM of Fintel Energija decided for the capital to increase to up to RSD 3.25 billion (EUR 27.5 million), which equals 6.5 million new shares worth RSD 500 – Fintel Energia Group says in a press release.

According to Italian media, Fintel Energia Group, owner of Fintel Energija, expect to keep a controlling stake in the Serbian company, whose IPO should be completed in the first half of the year.

Several days ago, Fintel Energija filed for an IPO with the Securities Commission of the Republic of Serbia. The company is also preparing a stock issue prospectus.

Fintel Energija and Serbia's MK Holding, owned by Serbian businessman Miodrag Kostic, own two companies, MK Fintel Wind and MK Fintel Wind Holding.

MK Fintel Wind controls the first phase of the Kosava wind farm (69 MW), the construction of which began last June. In late February, MK Fintel Wind announced that it had secured EUR 81.5 million for the completion of the first phase of this wind farm.

All other wind farms already built or currently being built by Fintel Energia and MK Holding in Serbia are owned by MK Fintel Wind. The companies have so far opened the first wind farm in Serbia, Kula, of 9.9 MW, in late 2015, and La Piccolina wind farm, in October 2016.

Fintel Energija a.d. Beograd

Beogradska berza a.d. Beograd

Fintel Energia Grupa Italija

Komisija za hartije od vrednosti Republike Srbije Beograd

MK holding Novi Beograd

MK-Fintel Wind d.o.o. Beograd

Fintel Energia Group

securities

Fintel Energija capital increase

initial public offering

IPO

IPO of Fintel Energija

Miodrag Kostic

Kosava wind farm

Kula wind farm

La Piccolina wind farm