A total of EUR 250 million was raised by ELVALCHALKOR following the completion of the Share Capital Increase as it announced, the Board decided to
(i) accept bids for New Shares total amount €250,000,002 and
(ii) to fix the final disposal price of New Shares offered in the Offer in €4,20 per New Share (the "Disposal Price"). The Disposal Price is the same in the Private Placement and the Greek Public Offer.
It is recalled that the management of the group presented in detail the new strategic plan by 2030, which is based on a total investment of EUR 850 million, of which around EUR 455 million relate to four major development projects to be financed by the forthcoming increase in share capital. The final objective is to provide adjusted EBITDA to reach EUR 425-475 million, with a significant increase in production volumes and even greater penetration in high added value markets.
From one billion investments to the next jump
The company has already invested over EUR 1 billion in the last decade, dramatically increasing both its volumes and added value of its products.
Previous investments doubled the hot rolled aluminium capacity, reaching 800,000 tonnes, creating the infrastructure on which the next development phase will be "built".
As explained by deputy CFO Angelos Yazijoglu, the company considers that now is the time to move on to the next step, as it already has the productive background, a strong and diversified portfolio of products and the major European and global trends fully coincide with the markets in which it operates.
