EDP rights issue twice oversubscribed, bodes well for Cellnex

Sam Kerr

August 10, 2020 01:00 pm

KYIV /KIEV, UKRAINE - July 10, 2019: In this photo illustration the EDP Renovaveis SA logo is seen displayed on a smartphone | Igor Golovniov/Игорь Головнёв - stock.adobe.com

Energias de Portugal, Portugal’s largest utility, closed its cash call in Lisbon on Friday with 93.8% of shareholders taking up their rights. However, the company attracted demand worth 256% of the €1bn offering. Market watchers hope the result augurs well for Spanish telecoms operator Cellnex's rights issue on Thursday.

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Topics

Spain Portugal Equity Europe Follow-ons and Rights issues EMEA

SK

Sam Kerr