{"id":96873,"date":"2024-10-16T00:00:00","date_gmt":"2024-10-16T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/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\/uae\/2024\/10\/16\/amea-power-to-invest-in-upcoming-cox-ipo\/","title":{"rendered":"Amea Power to invest in upcoming Cox IPO"},"content":{"rendered":"

Dubai-based Amea Power will subscribe to Spanish energy and <\/strong>water utility <\/strong>company <\/strong>Co<\/a><\/strong>x<\/a><\/strong>\u2019s<\/strong> upcoming IPO<\/strong>, according to a Cox press release (pdf)<\/a>. The IPO is expected to raise EUR 270 mn.<\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

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

Amea and Cunext have each inked binding agreements <\/strong>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.<\/p>\n

Want to go deeper? <\/strong>Check out Cox\u2019s IPO microsite here<\/a> or its intention to float announcement here (pdf)<\/a>.<\/p>\n

BACKGROUND-<\/strong> Amea Power signed power purchase agreements last month<\/a> to develop USD 800 mn solar and battery energy storage projects in Egypt. Amea Power is 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":"

Amea is part of a group of cornerstone investors who are taking up about one-third of the total offering<\/p>\n","protected":false},"author":1,"featured_media":96874,"comment_status":"","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":[1557],"tags":[364,143,7,25,1392,211,339],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-96873","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-amea-power","tag-energy","tag-enterpriseam-uae","tag-investment-watch","tag-ipo","tag-renewables","tag-sustainability","wpautop","entry"],"acf":{"mongo_id":"75491928-87b4-4d6d-89a9-ad3ade577d01","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/10\/1286.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Amea Power to invest in upcoming Cox IPO","related_issue":[96861],"teaser":"Amea is part of a group of cornerstone investors who are taking up about one-third of the total offering","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.d72f1baf-6e3a-41f7-97b1-1f0f7d92b0e2.mp3"},"yoast_head":"\nAmea Power to invest in upcoming Cox IPO - 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