The Murcian renewable Soltec receives the first bearish attack of its trajectory as listed. Seven months after debuting on the Spanish stock market, the company has 0.53% of its capital in the hands of the opportunistic fund Helikon, a common in the short positions on the listed Spanish clean energies.
Helikon Investments managers have notified the National Securities Market Commission (CNMV) that they reached this position on May 12. That day, Soltec suffered a 10.2% crash which left its price at 6.84 euros per share. In the last week, the renewable suffered a decline of almost 20% in its capitalization.
As a result of this depreciation, the stake disclosed by Helikon remains at a valuation of 3.3 million euros. An amount bet against the evolution of a company that, despite these declines, still accumulates a revaluation of 38% compared to the reference price of 4.82 euros per share with which it reached the Continuous Market on October 28 of last year.
This is the first time that Soltec has been harassed by a bearish investor above the 0.5% threshold, the level that the CNMV establishes to mark a short as relevant force him to reveal himself together with his contreta position before the market as a whole. To date, despite doubts about the valuation of renewables on the stock exchanges, it had managed to escape the growing pressure of shorts in several of its business partners.
The Milan and London-based hedge fund founded by former heads of Julius Baer’s Italian unit It is a regular among the relevant shorts of renewables on Madrid’s parquet. In fact, it is one of the main bearish investors of Solaria, where it currently declares a 1.21% stake bet against its evolution in the stock market.
On this last case, their siege has been loosening in recent weeks, as the company’s price has been deepening its decline. At the end of December last year, the Helikon companies accumulated 1.71% of Solaria’s capital by themselves, which despite this step backwards continues to be one of the listed companies in the sector most pressured by these speculative strategies.
This same Friday it was known that the fund Millennium Capital Partners has increased its short positions on Acciona. Specifically, from the minimum threshold of 0.5% to 0.6% of its share capital, which is equivalent to an investment of 43.08 million euros based on its current market price.
The company chaired by José Manuel Entrecanales goes ahead with its plans to go public as an independent company your energy business. A strategy that Acciona has never questioned despite the Ecoener debut fiasco and the subsequent cancellation of its plans by Opdenergy with no date to resume them.