Soltec Power Holdings rises 11% on stock market debut

• Soltec Power Holdings closed its first day of trading at 5.35 Euro per share, versus a starting price of 4.82 Euro, reaching a market capitalization of 488 million Euro
• Soltec Power Holdings’ IPO, the first one recorded in Spain since 2018, has gained the attention of important international and national investors
• Raúl Morales, CEO and founding member of the Company, has rang the bell and inaugurated trading today, at 12.00 CET at the Madrid Stock Exchange

Soltec Power Holdings has successfully concluded its IPO process today, becoming the first transaction of this kind in Spain since 2018. The company has started trading under the ticker “SOL”.

The transaction, which has gained an outstanding interest of international and national investors, consist of the offering of new shares for an initial amount of approximately €150 million, which could be extended for an additional €15 million through the sale of shares by Grupo Corporativo Sefran, S.L., the majority shareholder of the Company, if the over-allotment option of up to 10% of the initial offer is exercised in full.

Soltec Power Holdings’ admission to trading on the Stock Exchange highlights the company’s attractiveness in the institutional market and clearly supports its plans for growth and development of its activities in the countries where it is already present. It also shows the confidence of international investors in the Spanish renewable energy sector and, more specifically, in PV solar energy, as well as in the investment opportunity that Soltec Power Holdings represents.

The support in the strategy and value of the company has been endorsed by the evolution of the shares, which have closed their first day of trading with a revaluation of 11%. Soltec Power Holdings has closed its first day of trading at 5.35 Euros per share, compared to the starting price of 4.82 Euros. Its market capitalization has reached 488 million Euros.

After the traditional bell ringing that took place today at the Palacio de la Bolsa in Madrid at 12.00 In his speech, Raúl Morales, CEO and founding member of Soltec Power Holdings, highlighted that “We are entering a new stage, very exciting, full of challenges and opportunities, with a firm strategy, focused on growth and major objectives to be achieved. The next few years will be key to the energy transition process and the fight against climate change, which is why society as a whole needs the promotion of clean energies and the support of companies committed to these objectives more than ever.”

With its admission to trading on the Spanish Stock Exchanges, Soltec Power Holdings aims to strengthen its role as a key player in the energy transition, while seeking to broaden its shareholder base, diversify its funding sources, and institutionalize the relationship with its stakeholders based on transparency and corporate governance best practices.

About Soltec Power Holdings

Soltec Power Holdings is a leading global company specialized in providing integrated solutions in solar PV focused on tracking systems with a strong commitment to innovation. The company holds a top-three position globally, #1 in Mexico and Argentina and #2 in Brazil and Spain[1].

Headquartered in Molina de Segura, Murcia, Spain, Soltec Power Holdings has been active since 2004 and has a diversified geographical footprint focused on EMEA, North America and Latin America. Soltec Power Holdings is present in 16 countries worldwide with over 1,320 employees. Since its foundation, Soltec Power Holdings has delivered trackers for projects with a total cumulative installed capacity of c. 7.1 GW, of which 42% is in Latin America, 31% in North America (including Mexico), 25% in Europe, the Middle East and Africa and 2% in Asia-Pacific.

[1] Per MW of solar trackers delivered in 2019 Source: IHS Markit Global PV Tracker Market Report 2020.