Priority For Own Power Generation Portfolio: PNE Sells Remaining Treasury Shares And Raises Millions

Cuxhaven, Germany - PNE AG has sold the remainder of its treasury shares in order to strengthen the company's financial base. A total of 266,803 shares were sold on the stock exchange at an average selling price of euro 13.48.

According to the company, the sales proceeds of around euro 3.6 million will be used to further expand its own power generation portfolio. PNE had purchased the shares at a price of euro 2.65 as part of the share buyback in 2018.

“We have decided to sell the remaining treasury shares. In accordance with our Scale up 2.0 strategy, the expansion of our own portfolio has high priority. This is where the proceeds will be utilised,” says Harald Wilbert, CFO of PNE AG.

The listed PNE Group has been active in the market for more than 25 years as a developer of onshore and offshore wind farms, both nationally and internationally. The focus is on the development of wind energy and photovoltaic projects worldwide as well as on electricity generation with its own wind farms.

As a Clean Energy Solutions Provider, the PNE Group also offers services for the entire life cycle of wind farms and photovoltaic systems.

Source: IWR Online, May 05 2024