MADRID, July 2 (Reuters) - Portuguese biomass energy firm Greenvolt said on Friday it plans to make its debut on the Lisbon stock market on July 13, floating a stake of up to 25.2%.
Greenvolt, which is fully owned by Portuguese pulp producer Altri, said last week it planned to raise 150 million euros ($178 million) through a stock market listing to fund its expansion, including in European solar parks and wind farms.
The company said it expects to set the price of the new shares between 4.25 euros and 5 euros in a bookbuilding period held between Friday and July 8.
Renewable energy companies in Spain and Portugal are lining up to tap the market for funds, with the industry becoming increasingly popular among investors worldwide as governments and corporations try to wean themselves off fossil fuels and stem climate change.
Greenvolt’s initial public offering follows the one carried out by Acciona Energia on Thursday in Madrid.
Acciona Energia’s shares rose more than 7% on their first trading day, valuing the company at 9.4 billion euros, one of the most valuable stock market debutantes in Europe this year.
$1 = 0.8447 euros Reporting by Inti Landauro;Editing by Elaine Hardcastle