PNE aims to sell 22.8 million new shares and issue a bond, raising up to €80.3m to fund the plan.
The company told its investors: “The background to this is that the company intends, as a strategic expansion of its former business model, to accumulate a larger number of commissioned projects initially within a new subsidiary company.”
The company hopes to “sell all or some of these shares in this subsidiary to investors by the end of 2016 and in this way realise a majority exit from the subsidiary as profitably as possible”.
PNE
