Solar developer Cox Energy America, a subsidiary of Spanish firm Cox Energy, is to list on the Spanish stock exchange as it eyes dual listing and enhanced growth prospects.
Announced last week to its shareholders, the listing will see Cox Energy America gain better access to capital markets via the Bolsas y Mercados Españoles (BME) Growth stock exchange, a sub-market of Spanish company BME that organises the Spain’s national stock exchange.
The authorisation to list was given during the company’s General Shareholders’ meeting held on 16 November.
“Cox Energy America’s dual listing will allow us to access to a greater number of investors, increasing the visibility and marketability of the stock and thus, we will be able to offer a greater return to our shareholders,” said José Antonio Hurtado de Mendoza, CEO of Cox Energy America.
Cox Energy America was the first photovoltaic solar energy company to be listed on a Latin American stock exchange when it listed on the Mexican Institutional Stock Exchange (BIVA), according to a company statement.
“I am convinced that the Company has the talent, structure and tools necessary to be able to operate actively in both the Mexican and Spanish stock markets,” said Mendoza, adding that the company would “continue to seek capitalisation options that guarantee our growth”.