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CNMV opens a file against Ecoener for lending money to buy its shares

Date: September 28, 2023 Time: 00:01:13

The National Securities Market Commission (CNMV) has opened a sanction file against Grupo Ecoener for financial assistance during its IPO, as reported by the regulator in a statement.

The CNMV considers that the energy has incurred in a violation of article 150.1 of the Capital Companies Law. This precept prohibits a company from advancing funds, granting loans, providing guarantees or facilitating any type of financial assistance for the acquisition of its shares or shares or shares of its parent company by a third party.

According to the regulator, Ecoener allegedly committed this infraction by providing financial assistance to two shareholders to subscribe shares during the company’s IPO. The company debuted on the stock market in 2021.

An agricultural debut on the stock market

The Galician renewable energy company starred in a sour debut on the stock market in May 2021, the company’s titles registered declines, with a fall of more than 3%, to 5.7 euros.

Finally, the renewable energy group ended the session with a 15% drop, up to 5 euros. The group set its starting price at 5.9 euros with a capitalization of around 336 million euros.

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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