Germany

Germany

Green power marketer Unit Energy Europe starts tentative bourse trading

Renewable energy generation company Unit Energy Europe has been trading on the off-floor section of the Frankfurt stock exchange since February 9, reports Hans Haege of the company. The complete nominal capital of EUR 23 million has been put on the market by stockbroker BAV Börsenmakler of Frankfurt. "There has been a high turnover. On the first day of trading, 450,000 shares changed hands," says Haege of the company. Before the launch Unit Energy had more than 6000 stakeholders. As an unlisted company, Unit Energy is not required to provide quarterly reports or report all company business that could affect share prices as it happens. Unit Energy Europe posted a loss for 2000 of DEM 4 million, lower than the DEM 6 million expected earlier in the year. Turnover of DEM 6 million was a little higher than forecast, says Haege. In 2001 losses are forecast to reach DEM 4 million on a turnover of DEM 10 million "due to further company expansion." Break even should be achieved in 2002, the company says.

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