Latest news with #capitalincrease
Argaam
an hour ago
- Business
- Argaam
National Building raises subsidiary's capital to SAR 300M
National Building and Marketing Co. (NBM) increased the capital of its subsidiary, Ajeej Steel Manufacturing Co. (a closed joint stock company), from SAR 180 million to SAR 300 million. In a statement to Tadawul, NBM said the subsidiary's share capital will be raised from 180 million to 300 million ordinary shares under this transaction. The SAR 120 million capital increase was covered from the shareholders' current account, it added. This step is a part of supporting the growth and expansion plans of its subsidiary, which will strengthen NBM's financial position and positively reflect on its consolidated results.
Yahoo
5 hours ago
- Business
- Yahoo
Iberdrola Starts €5 Billion Share Sale for Grid Investment
(Bloomberg) -- Iberdrola started a €5 billion ($5.9 billion) capital increase, the biggest share sale in Europe so far this year, to bolster investments in power networks and further its US and UK expansion. Trump Awards $1.26 Billion Contract to Build Biggest Immigrant Detention Center in US Why the Federal Reserve's Building Renovation Costs $2.5 Billion Salt Lake City Turns Winter Olympic Bid Into Statewide Bond Boom Milan Corruption Probe Casts Shadow Over Property Boom How San Jose's Mayor Is Working to Build an AI Capital The indicative price guidance for the Spanish energy giant's accelerated bookbuild was €15.10 per share to market, according to terms seen by Bloomberg. Iberdrola's closing price was €15.895 on Tuesday, bringing the stock's gains to 20% this year. Indicative investor interest exceeds of the size of the offer, with the company's shares suspended in early Madrid trading. Iberdrola is one of a handful of companies cashing in on the unprecedented demand to build out power grids as countries work to decarbonize and meet rising electricity demand. The company expects to invest some €55 billion globally over the next six years, an increase of 75% compared with the previous six years. The Spanish utility will maintain its focus on the US and UK, saying tariff frameworks for transmission and distribution activities in the two markets represent 'an unprecedented investment opportunity.' By contrast, Iberdrola sees little incentive to invest in its home market of Spain. Antitrust regulator CNMC has proposed increasing network returns to 6.46%, but that remains below the level of other European countries. That proposal gives 'a clearly negative signal to the market,' Iberdrola Chairman Ignacio Galan said Wednesday on an earnings call. The reliability of the Spanish power network has also been questioned in the wake of the nationwide blackout that left millions of people without electricity at the end of April. Iberdrola expects its regulated asset base to triple to more than €90 billion in 2031 from the level in 2020. While investments will grow almost fourfold in the UK and near double in the US, the company's Spanish assets are projected to shrink by 10% to €3.5 billion. --With assistance from Bre Bradham and William Mathis. (Updates with details throughout) Elon Musk's Empire Is Creaking Under the Strain of Elon Musk Burning Man Is Burning Through Cash A Rebel Army Is Building a Rare-Earth Empire on China's Border Thailand's Changing Cannabis Rules Leave Farmers in a Tough Spot How Starbucks' CEO Plans to Tame the Rush-Hour Free-for-All ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Wall Street Journal
9 hours ago
- Business
- Wall Street Journal
Iberdrola to Raise Almost $6 Billion to Support Investments
Iberdrola IBE 0.89%increase; green up pointing triangle said it plans a capital increase of 5 billion euros ($5.88 billion) to support its upcoming investments. The Spanish energy company said Wednesday that it plans an accelerated bookbuilding offering of new shares, with the amount of shares and price to be determined.
Bloomberg
9 hours ago
- Business
- Bloomberg
Iberdrola Starts €5 Billion Capital Hike to Boost Power Networks
Iberdrola started a €5 billion capital increase aimed at boosting its strategy of investing in power networks globally. The Spanish energy giant will carry out an accelerated bookbulding offering available exclusively to qualified investors, it said in a regulatory filing Wednesday. The offering will be conducted to determine the issue price and the final number of new shares to be issued.
Reuters
9 hours ago
- Business
- Reuters
Iberdrola launches $5.9 bln capital increase to fund grid investments
MADRID, July 23 (Reuters) - Europe's largest utility Iberdrola ( opens new tab on Wednesday launched a 5 billion euro ($5.87 billion) capital increase to help fund investments in power grids in Britain and in the United States. The company plans to increase its annual investments to around 15 billion euros from a current level of around 12 billion euros, building on its shift towards upgrading and expanding power grids in countries where returns are steady and healthy, such as the U.S. and Britain. The cash raised, along with debt, operating cash flow, asset sales and partnerships will help fund the new strategy the company will present in September. The shares offered through a process of accelerated book-building were set to be priced at 15.10 euros, one of the bookrunners said. Iberdrola's share price closed at 15.895 euros on Tuesday. Spain's stock market regulator suspended trading of Iberdrola's shares on Wednesday morning. Separately, the utility said first-half net profit declined 14% from a year earlier, when results included the sale of gas assets in Mexico. Net profit for the period was 3.56 billion euros ($4.18 billion) compared to 4.1 billion euros a year earlier. Excluding one-offs, profit was up 20%, it said. ($1 = 0.8523 euros)
