Solar power firm Engyco want to expand
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Sunday, January 17, 2010
Newly founded solar firm Engyco is considering a stock market listing as it seeks to raise cash to invest in solar parks in Europe.
Engyco, whose executive vice-chairman is Alexander Voigt, the founder of German solar firms Solon (SOOG.DE) and Q-Cells (QCEG.DE), said it was considering a number of options for raising finance.
"This may include a listing of the company's shares on a recognised stock exchange," the firm, which is run from the Channel Island of Jersey, said on Sunday.
It has appointed Numis Securities and Ambrian Partners as advisers.
The Independent on Sunday reported Engyco was hoping to raise up to 1 billion euros (861 million pounds). The company says on its website it is aiming to acquire 3 billion euros of assets within three years.
Meanwhile, in a sign that plans for initial public offerings on the London market are catching up with a recent flurry of IPO activity elsewhere, newspapers reported that travel firm Travelport, Sugar Puffs owner Big Bear Group and The Priory, the health clinic favoured by celebrities, are all considering listings. The Sunday Times said hotel and airline reservations company Travelport would this week announce plans for a 1.8 billion pound flotation to pay down debt taken on by owner, private equity group Blackstone.
New York-based Travelport, which posted third-quarter revenue of $570 million, declined to comment.