{"id":87375,"date":"2024-10-16T00:00:00","date_gmt":"2024-10-16T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/10\/16\/amea-power-to-invest-in-upcoming-cox-ipo\/"},"modified":"2024-10-16T00:00:00","modified_gmt":"2024-10-16T00:00:00","slug":"amea-power-to-invest-in-upcoming-cox-ipo","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/10\/16\/amea-power-to-invest-in-upcoming-cox-ipo\/","title":{"rendered":"Amea Power to invest in upcoming Cox IPO"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>UAE\u2019s Amea Power will subscribe to Spanish energy and <\/strong><strong>water utility company <\/strong><strong><a target=\"_blank\" href=\"https:\/\/grupocox.com\/en\/about-us\/business\/energy\/\" style=\"\" rel=\"noopener\">Cox<\/a><\/strong><strong>\u2019s upcoming IPO<\/strong>, according to a Cox <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/1223.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The IPO is expected to raise EUR 270 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who\u2019s in? <\/strong>Amea Power is joining a group of cornerstone investors for the transaction. Others in the group include Morocco's Attijariwafa Bank, Spanish copper and aluminum production firm Cunext Group, Spanish businessman and Cox shareholder Alberto Zardoya, and Cox\u2019s founder and primary shareholder, Enrique Riquelme.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Amea and Cunext have each inked binding agreements <\/strong><span style=\"background-color: transparent;\">for their share purchases, the IPO advisors note. Cox, which has 3.6 GW of installed capacity in Latin America, Spain, and Africa, said last week it was planning to offer new shares in an IPO on the Madrid Stock Exchange.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to go deeper? <\/strong><a target=\"_blank\" href=\"https:\/\/ipo.grupocox.com\/company-profile\/\" style=\"\" rel=\"noopener\">Check out Cox\u2019s IPO microsite here<\/a> or its intention to float announcement <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/1294.pdf\" style=\"\" rel=\"noopener\">here (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND-<\/strong> Amea Power signed power purchase agreements <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/ada7b201-24e0-48e7-b292-cd80c369dd99\/%253cmark%253eamea%253c%2Fmark%253e-power-to-invest-usd-800-mn-more-in-renewables-projects-in-egypt\" style=\"\" rel=\"noopener\">last month<\/a> to develop USD 800 mn solar and battery energy storage projects in Egypt. Amea Power is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/ab224c54-36be-4410-91a0-a4a56e60a948\/us,-uae-agree-on-ai-framework,-pledge-defense,-space-cooperation\" style=\"\" rel=\"noopener\">working to secure<\/a> USD 5 bn in capital to develop 5 GW of renewable energy capacity across Africa by 2030.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The IPO is expected to raise EUR 270 mn<\/p>\n","protected":false},"author":1,"featured_media":87376,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[152],"tags":[244,11,151,377,52],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-87375","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-amea-power","tag-enterpriseclimate","tag-investment-watch","tag-ipo-watch","tag-uae","wpautop","entry"],"acf":{"mongo_id":"5e827f7c-4615-4eda-b9a1-e4ce8adc973e","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/8\/2454.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Amea Power to invest in upcoming Cox IPO","related_issue":[87368],"teaser":"The IPO is expected to raise EUR 270 mn","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.4bf58c32-d356-468f-8535-7f4ca0641896.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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