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Stock exchange entry with a flourish

Wind station operator Plambeck Neue Energie entered the Frankfurt bourse with a flourish as its shares were traded for the first time on December 15 in the New Markets section. The Plambeck shares were issued at DEM 48 (EURO24.5) and shot up by 37.5% on the first day of trading. Of the 2.8 million shares placed, bundled into 560,000 individual share certificates, 440,000 were issued as a capital increase. The company, based in Cuxhaven, has a nominal capital of DEM 12.2 million (EURO6.24 million). Turnover in 1998 soared fivefold to DEM 52.9 million and is expected to more than treble in 1999 to DM 177 million. Plambeck plans to install over 70 MW at sites in Lower Saxony, North Rhine Westfalia and Saxony Anhalt in 1999 (Windpower Monthly, December 1998). From 2000 onwards, the company aims to build 100 MW of wind capacity a year and to start playing the electricity market with its own generated power as well as purchased power. Currently the company operates the 17 MW Nordleda wind station, inaugurated last July, as well as two AN Bonus 1 MW turbines at Westeregeln in Saxony Anhalt and 16 Nordex Balcke-Dürr 1.3 MW units at Altenbruch in Lower Saxony -- all of which were installed late last year.

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