Middle East

Israel’s Enlight Renewable raises 223 million shekels in share issue

TEL AVIV (Reuters) – Israel’s Enlight Renewable Energy said on Monday it completed a share offering to institutional investors, accepting early commitments to purchase shares worth 223 million shekels ($62 million).

The investors who participated in the offering had filed 355 million shekels in early bids for purchase of Enlight stock.

The closing price was set at 2.33 shekels per share, which will constitute the minimum price in the public offering. The orders will be included in the shelf prospectus to be published by the company.

Moody’s Israeli arm Midroog rates the company “A3” with a stable outlook.

With operations in Israel and Europe, Enlight has been involved in over 130 projects with total capacity of more than 500 megawatts in the past two years.

(This story corrects amount of power generated by Enlight to 500 megawatts, from 350 megawatts)

Reporting by Tova Cohen; Editing by Steven Scheer

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