Visit for the latest on our upcoming conferences and webcasts



Senvion begins share buy-back

GERMANY: Turbine manufacturer Senvion has announced plans to buy back some of the shares it floated on the stock exchange in March.

Senvion will spend up to €75 million buying back shares
Senvion will spend up to €75 million buying back shares

Senvion's management board said it could purchase up to 6.5 million shares – equivalent to 10% of the issued share capital, the company said.

The buy-back programme will begin in Q3 and run for up to two years. Senvion said it would spend up to €75 million on the buy-back.

"On the basis of a solid liquidity, the company wants to take advantage of the currently favourable share price in order to buy-back shares via the stock market," Senvion said.

Senvion's shares were priced at €11.50 per share on the afternoon of Monday 15 August, down from a high of €16.28 in early April.

On 21 March, the manufacturer issued its shares in a private placement between €15.50 and €17.00 per share ahead of its first day of trading on 23 March.

Last week, the firm announced revenues of €505 million in Q2 – up 7% year-on-year. However, revenues in the first six month of 2016 fell 6% to €870 million.

Have you registered with us yet?

Register now to enjoy more articles
and free email bulletins.

Sign up now
Already registered?
Sign in

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus

Windpower Monthly Events

Latest Jobs