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The company was listed on the [[Bolsa de Madrid|Madrid Stock Exchange]] in December 2007 in an [[initial public offering]].<ref>{{cite news|url= https://www.bloomberg.com/apps/news?pid=newsarchive&sid=aOTq_88747JA |title=Iberdrola Unit Drops in Debut After $6 Billion IPO|last=Rix|first=Kristian|date=13 December 2007|work=[[Bloomberg L.P.|Bloomberg]] |accessdate=2008-09-20}}</ref> 844,812,980 new shares were placed at a price of €5.30 each. The operation totalled €5 [[billion]], the largest placement ever made on the Spanish market by a new company.{{citation needed|date=August 2011}} |
The company was listed on the [[Bolsa de Madrid|Madrid Stock Exchange]] in December 2007 in an [[initial public offering]].<ref>{{cite news|url= https://www.bloomberg.com/apps/news?pid=newsarchive&sid=aOTq_88747JA |title=Iberdrola Unit Drops in Debut After $6 Billion IPO|last=Rix|first=Kristian|date=13 December 2007|work=[[Bloomberg L.P.|Bloomberg]] |accessdate=2008-09-20}}</ref> 844,812,980 new shares were placed at a price of €5.30 each. The operation totalled €5 [[billion]], the largest placement ever made on the Spanish market by a new company.{{citation needed|date=August 2011}} |
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The company joined the benchmark [[IBEX 35]] index in a February 2008 [[reshuffle]].<ref>{{cite news| url= |
The company joined the benchmark [[IBEX 35]] index in a February 2008 [[reshuffle]].<ref>{{cite news| url=https://www.forbes.com/feeds/afx/2008/01/29/afx4587438.html| title=Criteria, Iberdrola Renovables to replace Altadis, AGBAR in IBEX-35 index Feb 4|date=29 January 2008|work=[[AFX News]]|publisher=[[Forbes]]| accessdate=2008-09-20| archiveurl=https://web.archive.org/web/20080203005232/http://www.forbes.com/feeds/afx/2008/01/29/afx4587438.html| archivedate=2008-02-03}}</ref> |
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===Merger with Iberdrola=== |
===Merger with Iberdrola=== |
Company type | Sociedad Anónima Unipersonal |
---|---|
BMAD:IBR | |
Industry | Renewable energy |
Founded | 2001 (2001) |
Defunct | July 11, 2011 (2011-07-11) |
Fate | Merged with Iberdrola |
Headquarters | , |
Key people | Ignacio Galán (president) Xavier Viteri (CEO) |
Parent | Iberdrola |
Iberdrola Renovables was a subsidiary of Iberdrola, headquartered in Valencia, Spain, which included companies in the domains of renewable energy, particularly wind power. The firm was the world's largest renewable energy firm:[1] it was the world's largest owner-operator of wind farms,[2] but also operated in the solar, hydro, biomass and wave power industries.
Iberdrola Renovables was registered in Madrid following its incorporation in 2001. It started as a wholly owned business unit of Iberdrola under the name Iberenova.[3] In 2009 the company changed its registered office to Valencia. However, it still had a strong presence in Madrid and in Bilbao, its birthplace.
The company was listed on the Madrid Stock Exchange in December 2007 in an initial public offering.[4] 844,812,980 new shares were placed at a price of €5.30 each. The operation totalled €5 billion, the largest placement ever made on the Spanish market by a new company.[citation needed]
The company joined the benchmark IBEX 35 index in a February 2008 reshuffle.[5]
In July 2011, Iberdrola Renovables merged with its parent company Iberdrola and is now Iberdrola's renewable energy business.[6] Minority shareholders could change their shares into Iberdrola shares at a 1 for 2 ratio, equivalent to a value of around €3 for each share of Iberdrola Renovables.