The CNMV opens a file against the Galician Ecoener for borrowing money to buy its shares in the IPO

The National Securities Market Commission (CNMV) opened a disciplinary file according to ecoener group for financial assistance during the IPO, as reported by the regulator in a statement.

The CNMV considers the Galician energy company to have violated Article 150.1 of the Law on Capital Companies, which prohibits the company from advancing, granting loans, providing guarantees or providing any type of financial assistance for the acquisition of its shares or shares or a stake in its parent company by a third party.

According to the regulator, Ecoener would have committed this offense by providing financial assistance to two shareholders to subscribe for shares during the company’s IPO.

Article 157 of the same law stipulates that the offense will be punished with a fine up to the nominal value of shares acquired by a third party with financial assistance.

The company made its debut on the Continuous Market 2021. On the first day of trading, the titles rose by 1.7% at that time and closed at six euros per share.

It is the second Galician listed company to face problems with the CNMV. It’s the second one EiDF Solaralso dedicated to the sector of renewable energy sources, which is located suspended from trading since April at BME Growth for not presenting their 2022 earnings reports.

For now, Ecoener has not given an estimate on the CNMV file.