NORDEX SE : Capital increase reserved for Acciona. Buy recommendation reiterated
>Capital increase reserved for Acciona - Acciona announced yesterday morning that it had fully subscribed, via a private placement, to a 10% increase in Nordex’s share capital. The capital increase, in line with German regulations, was conducted on the basis of Nordex’s average share price over the last three days, i.e. € 10.21, valuing the deal at € 99m. Acciona’s stake in Nordex will rise from 29.9% to 36.27%, above the regulatory ceiling of 30% which automatically...Nordex is a holding company. Co. is a supplier of multimegawatt onshore wind turbines for locations characterised by strong, medium and light wind conditions. Co. focuses on developing and producing the entire system including the control software as well as the main core components and on providing related services. This mainly refers to the sale of wind power systems and, in selected markets, the upstream wind farm project development and sale of turnkey solutions. In addition, Co. assembles wind turbines and provides the necessary after-sales service. Co.'s finance department also supports customers to raise project finance via national and international commercial banks.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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