Leon's avatar
$18.5m follower assets
Clearvise capital increase & first valuation indications
Today, Clearvise $ABO.F announced the planned capital increase in connection with the acquisition of the renewable energy portfolio of Tion. The new shares with subscription rights for old investors will have a subscription price of 2.10 € per share (current price 2.60 €).

clearvise and Tion had already agreed at the beginning of their talks on a uniform assessment framework for the two portfolios. The valuation of both portfolios using the same method represents an essential basis for determining the purchase price with regard to a possible acquisition by clearvise. Taking into account uniform electricity price forecasts and valuation parameters, the parties now come up with indicative valuation ranges (equity value) of approx EUR 145 million to EUR 177 million for the Tion existing portfolio and from approximately EUR 207 million to EUR 253 million for the clearvise existing portfolio (as of November 21, 2022), this would imply a valuation of the clearvise portfolio of 3,25 € to 3,98 € per share.
Image upload

Image upload
Markus's avatar
Thx for mentioning! How do you calculate the per share portfolio value?
Leon's avatar
@kubilism the EUR 207million to 253 million from the indicative valuation divided by the currently outstanding shares
Markus's avatar
@mavix but the no. of shares will increase by ca. 19% due to the increase. And shouldn’t we deduct debt as well?
Leon's avatar
@kubilism yes, it’s a very simplified calculation of the current situation. According to the statement the current portfolio is worth 207-253 million. If clearvise would not do this capital increase it wouldn‘t change this current value. But yes, taking the debt into calculation and do it with the EV would definitely make sense

Author

Related