Germany

Germany

German wind station operator Wind 7 postpones plans for stock flotation

Wind station operator Wind 7 of Eckenförde has once again postponed plans for a stock exchange flotation. It had planned to go public at the end of 2002 but was put off" by the difficult market environment and the possibility of a war against Iraq." By early March little had changed. The stock holding company owns and operates 30 MW of wind capacity worth EUR 36 million. Originally founded in 1999 by seven companies, it has in the meantime carried out four capital increases and now has 1500 private and institutional shareholders. At the last capital increase in 2001 of EUR 2.29 million, shares went for EUR 12.3 apiece while new investors paid EUR 13 for the shares, each having a nominal value of EUR 10. The company achieved a turnover of EUR 3.9m in 2002.

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