The shares of ENTRADE Energiesysteme AG, which were offered to private and institutional investors ahead of the initial public offering on the NASDAQ OMX, have been oversubscribed. The company will not be offering any further shares during the IPO. As the institutional investors no longer have any shares available it will only be possible to acquire these after the company’s successful listing on the stock exchange.
As ENTRADE is the first German company to be listed on the NASDAQ OMX in Stockholm, a number of technical aspects are currently being clarified between the clearing institutions before trading in the shares can begin.
Major order from Nigeria
In mid-August the company received a major order from the government of Imo State in Nigeria to set up a state-wide energy and waste management system. Under the agreement ENTRADE will initially set up 200 energy and recycling centres in the state capital Owerri. This part of the project is to be completed by the end of 2015, followed by the optional construction of up to 2,300 further regional supply centres throughout the entire state, which lies in southern Nigeria. ENTRADE will operate these centres itself, both processing waste and selling the electricity generated. Further projects of this type are currently being evaluated.
Worldwide ENTRADE Energiesysteme AG develops, constructs, operates and sells innovative power stations for the production of electricity, heating and cooling from unused biomass and waste materials – from small turnkey installations right across to complex industrial facilities. Founded in 2009, the company currently employs a staff of 40 and is among the fastest-growing enterprises in Germany’s energy industry. At this year’s annual general assembly the shareholders present unanimously approved the actions of the management and supervisory board, and welcomed the strategic course adopted by the company.
The NASDAQ OMX Nordic market, on which around 750 listed companies are traded on seven Scandinavian and Baltic stock exchanges, is the European subsidiary of the NASDAQ US technology exchange based in New York. One of the advantages of the listing is the possibility of extending it to the US market in future.
ENTRADE’s securities identification number is ENTR86.
For further details please see www.entrade.de.