A total of 10,139,506 new shares have been issued for the purpose at a subscription price of E22.50. With this capital increase, the company intends both to strengthen its equity base and to finance further profitable growth.
MVV Energie Group has already invested more than E700 million in the expansion of its municipal utility network and its two high-growth fields of energy-related services and environmental energy in the past four years.
MVV Energie intends to expand in the rapidly growing market for energy-related services and renewable energies by means of additional projects and by making further acquisitions if appropriate. Moreover, the company plans to extend its activities in the field of non-recyclable waste incineration.
Rudolf Schulten, CEO of MVV Energie, said: We see the fact that this capital increase has been undertaken without impacting on our current share price as confirming the positive reception of this move by the capital markets.
