MK Fintel Wind to list on Belex in 2017

(Tiziano Giovannetti) According to the announcements from MK Fintel Wind, the company might become the first private green energy company in Serbia to list on the Belgrade Stock Exchange, the company reported.

The joint company of the Italian Fintel Energia Spa, which lists on the Italian stock exchange, and MK Group is currently working on the first Initial Public Offering in the Serbian market, more precisely, on the Serbian and Belgrade Stock Exchange. The foreign public and institutional investors have great expectations.

– We have been working on this plan for several months now, but there’s been a great acceleration in the past few weeks, as there’s a great amount of funds involved and many institutional investors are looking to earn, not just in paper money, but in true property as well – Tiziano Giovannetti, CEO of MK Fintel Wind, said and added that certain investors wanted to conduct the purchase early on so that they would be in advantage in terms of prices.

The company is currently choosing advisers and consultants to hire for necessary procedures. They expect to reach a market cap of EUR 120 to 150 million, which could place the company in the top 10 market caps at Belex.

Giovannetti adds that they are planning to offer between 20 and 40% of the stock capital of Fintel Energia AD through the IPO, by which they are looking to acquire as much as EUR 60 million from institutional and private investors, which is then to be invested in the Kosava project and several smaller wind farms the company wants to raise closer to the consumption spots.

The company hopes that the procedure of listing on Belex will be completed by the end of the year, as this period coincides with the construction of the biggest wind farm in the country, Kosava, which is currently being raised. This is a considerably larger project compared to the investments realized so far. The wind farm Kosava should have around 117 MW of installed power and has been estimated at EUR 124 million. The works are to be completed in 2019.

MK Fintel Wind already owns two operational wind farms in the country, with 16.5 MW of total installed power.

MK-Fintel Wind d.o.o. Beograd

MK Group d.o.o. Beograd

Beogradska berza a.d. Beograd

Fintel Energia Grupa Italija

MK Fintel Wind

Fintel Energia AD

Fintel Energia Spa

MK Group

Belgrade Stock Exchange

Tiziano Giovannetti

wind farm Kosava