After shelving its IPO plans last week, Senvion announced today that it has decided to relaunch a private placement and listing of shares on revised terms – the placement price is now in the range of EUR 15.50 and EUR 17.00 per share.
Senvion, and its shareholders Centerbridge and Arpwood, are offering up to 18,687,500 million shares in the private placement: a base offer of 16,250,000 million shares, and an additional 2,437,500 shares to cover potential over-allotments. In order to cover potential over-allotments, the selling shareholders have granted the underwriters an option to purchase up to 2,437,500 shares in addition to the base shares (greenshoe option).
The placement price per share is expected to be determined on 22 March 2016, Senvion shares are expected to start trading on the regulated market segment of the Frankfurt Stock Exchange (Prime Standard) on 23 March 2016.
Assuming full exercise of the greenshoe option, the free float following the private placement is expected to amount to approximately 28.75% of Senvion’s issued and outstanding share capital.