REN´s capital increase with demand 65.6% above offer

REN - Redes Energéticas Nacionais today completes its capital increase of 250 million euros, through the issuance of 133,191,262 new shares, with this issue having been fully subscribed, and the total recorded demand amounting to 165.6% of the offer.

The operation, completed today, involved the issue of 133,191,262 common, book-entry and registered shares, with the nominal value of one euro each, at the unit subscription price of 1.877 euros.

In the exercise of subscription rights, 126,731,246 shares were subject to proportional subscription, representing approximately 95.1% of the total shares to be issued under this offer, with 6,460,016 shares remaining available for pro-rata allotment (corresponding to 4.9%). Additional requests for shares subject to pro-rata allotment exceeded 14.5 times the amount available.

The capital increase was thus fully subscribed, corresponding to a financial income of about 250 million euros.

For Gonçalo Morais Soares, CFO of REN: 'The results of the capital increase allow us to come to the conclusion that the operation was a success, thus reflecting the commitment of our shareholders to the course we set out for the company, in line with the defined strategic plan'.

The financial settlement of the shares subscribed in the exercise of the subscription rights takes place today, 7 December, and the financial settlement of the shares allocated pro rata is expected to take place on 11 December 2017.