Law firm CMS Hasche Sigle has advised Hamburg-based Capital Stage AG on a 10 per cent capital increase.
The company has acquired photovoltaic plants and wind farms in Germany and Northern Italy with a capacity of around 241 megawatt peak (MWp) since 2009, making it one of the largest independent solar park operators in Germany.
A team from CMS Hasche Sigle led by lead partner Dr Andreas Zanner provided advice to Capital Stage AG and the sole global coordinator, Joh. Berenberg, Gossler & Co., on structuring and completing the transaction. The co-manager is WGZ BANK AG.
CMS Hasche Sigle also supported Capital Stage AG during the largest capital increase in the company’s history back in October 2013.
As part of a pre-placement, a total of 4,698,158 new no-par value bearer shares were placed by the bank consortium with international institutional investors and existing core shareholders against a cash deposit and with shareholder subscription rights excluded. The placement price is EUR3.65 per new share. The new share capital is now EUR72,439,406, divided into 72,439,406 no-par value shares.
The company generated gross proceeds from the transaction of EUR17.1m, which is earmarked for expansion of its power production portfolio by around 40 megawatts (MW).
