BAKU, Azerbaijan, Dec.19
By Leman Zeynalova – Trend:
Spain’s Enagás company, which is one of the shareholders of the Trans Adriatic Pipeline (TAP) has successfully completed a 500 million-euro capital increase through the issuance of 23,255,814 ordinary shares at an issue price of €21.50 per share, Trend reports citing the company.
This represents a discount of only 1.47 percent, said the company.
“This capital increase took place in record time, through an accelerated bookbuilding offering with the exclusion of the shareholders’ pre-emption rights. Investor demand has repeatedly outpaced the supply of new shares, underscoring the market’s strong interest,” said Enagas.
Enagás said it will use this capital increase to finance the increase of its stake in the US energetic company Tallgrass Energy, announced this week, which will mean an outlay of $836 million for the company.
The increase in the number of shares as a result of this acquisition does not alter Enagás dividend per share commitment with its shareholders. This commitment was stablished in the company's strategic update in March, and states an annual dividend growth to reach 1.74 euros per share by 2023.
The success of this capital increase evidences the market’s confidence in the strength of the company, as well as its support to the US operation in particular and its international growth strategy in general.
Enagás is present in eight countries. In Mexico, the company holds a stake in the TLA Altamira regasification plant, is a member of the consortium that built and now operates the Morelos gas pipeline and a member of the consortium that developed the Soto La Marina compressor station, in operation now. It is also the main shareholder of Quintero LNG terminal in Chile and holds stakes in Transportadora de Gas del Perú (TgP) and Compañía Operadora de Gas del Amazonas (Coga) in Peru.
Enagás is also involved in the construction of the Trans Adriatic Pipeline (TAP), which will bring gas to Europe from the Caspian Sea linking Greece, Albania and Italy. The company is part of the consortium that has acquired 66 percent of the Greek gas operator DESFA as well.
Furthermore, the company has a stake in Tallgrass Energy, a US energy infrastructure company that owns, among other assets, 11,000 km of transmission pipelines.
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