Alantra acted as nominated advisor, sole global coordinator and bookrunner in the IPO of Comal on AIM Italia

Dec 2020

IPO

Milan – Alantra, the independent global mid-market investment banking, alternative asset management and credit portfolio advisory firm, has acted as nominated advisor, sole global coordinator and bookrunner in the listing of Comal Group, a leading Italian installer of solar power systems, on its listing on AIM Italia on 16 December of 2020 with a final offer price of €2.00 per new share.

COMAL is an Italian manufacturer of solar power energy which produces equipment in utility scale (>1MV), with an estimated market share around 70% on 2019 installed capacity. COMAL has built a solid track record, with 30+ plants for a cumulative power of about 600MW from 2009. The company has successfully served several leading European players, from pure energy investors, like Octopus, EOS, European Energy, to large local and international utilities ENEL, General Electric, Edison, among others.

The company has seen a significant growth in the past three years and decided to go public to raise funds to further support its development plans, to become a leader in the renewable energy sector in Italy and to consolidate its international footprint.

The book building process was oversubscribed and offers were received from leading Italian and international institutional investors.

Stefano Bellavita, Managing Partner at Alantra said: “We are pleased to have contributed to the completion of this transaction. Comal is a leading installer of solar power systems and this listing will enable the company to increase its footprint internationally”.

This deal is the sixth IPO concluded by Alantra in Italy since the launch of the Equity Team and will further strengthen the firm’s credibility in the equity capital markets.