MADRID, 2 Jul. (EUROPA PRESS) –
Cox Energy will debut this Monday, July 3, on the Stock Market with a valuation of 285 million euros and a price for the start of the contracting of the shares of 1.73 euros per title.
By joining BME Growth, the company led by Enrique Riquelme seeks to broaden its shareholder base, gain greater visibility and access to European markets.
This is the fifth company to join this BME market so far this year and the first company to be listed on both BME Growth and the Mexico Stock Exchange, as reported by BME.
Specifically, the highest governing body of Cox Energy has taken a price of 1.73 euros per share as a reference for the start of trading the shares, taking into account the valuation report carried out by the independent expert Crowe, which implies a total valuation of the company of 285 million euros.
The company’s trading code will be ‘COX’. The company’s registered advisor is Singular Bank, while Gestión de Patrimonios Mobiliarios will act as liquidity provider.
The president of Grupo Cox, Enrique Riquelme, has recently highlighted some of the “advantages” of going public, among which he stressed “showing transparency, having governance, which is super important when it comes to financing yourself, showing an attractive project for attract the best possible talent and have the best human capital”.
Cox Energy was incorporated in Mexico in 2015 and together with its subsidiaries forms a group of companies with a 100% green approach with an international presence dedicated to the management, development and operation of a portfolio of energy projects from renewable sources, mainly from photovoltaic origin, with presence in Europe and Latin America.
The company was listed on the Mexican Stock Exchange (BIVA) on July 8, 2020.
Cox Energy has more than sixty projects and 4.7 Gwp under management by 2025, 46% of which are in Spain. Currently, the group only has 48 MW in operation (1.5% of the 3,179 MW of the total project portfolio, which includes 800 MW of identified opportunities), which may condition the valuation upwards by granting value and probability of success to projects that are in a very early development phase, it indicates in the document.
On April 18, Cox Energy Solar was awarded by the Mercantile Court of Seville for the production units of Abengoa established in the offer presented by the firm, which includes the assets and liabilities of the insolvent companies.
