Enlight Renewable Energy, which operates wind and solar energy projects in Israel, Europe, and the US, raised $252 million by offering 14 million shares at $18.
The company priced its shares at discount to the $19.20 as-converted last close of its shares on the Tel Aviv Stock Exchange (ticker: ENLT), and below the $20.96 share price when the deal launched on Monday morning. BNP Paribas Asset Management had indicated on $25 million of the offering.
Enlight is the second sizable renewables company to IPO in the US this week; the other, solar tracking equipment company Nextracker (NXT), rose 26.9% on its Thursday debut.
Enlight develops, finances, constructs, owns, and operates utility-scale renewable energy projects, primarily generating revenue from the sale of electricity. The company operates in 11 countries on three different continents, and its global operations include what it believes are some of the largest onshore wind and solar projects across the US, Western and Central & Eastern Europe, and Israel. As of November 22, 2022, Enlight's global portfolio included approximately 17.0 GW of generation capacity and approximately 15.3 GWh of energy storage capacity.
Enlight Renewable Energy plans to list on the Nasdaq under the symbol ENLT. J.P. Morgan, BofA Securities, Barclays, Credit Suisse, Nomura Securities, WR Securities, and HSBC acted as joint bookrunners on the deal.
