ENGIE Raises 3 Billion Euros in Capital
ENGIE has announced the successful capital increase of approximately 3 billion euros to partially finance the acquisition of UK Power Networks.
Details of the Capital Increase
ENGIE issued 107,142,857 new shares at a price of 28.00 euros per share, representing about 4.4% of the pre-issue share capital. The subscription price was broken down into 1.00 euro of nominal value and 27.00 euros of issue premium. A discount of 3.2% compared to the closing price on February 27, 2026, was applied as part of a private placement through an accelerated bookbuilding process with qualified investors, without preferential subscription rights for shareholders.
Financing and Strategic Implications
The net proceeds from the capital increase will partly finance the acquisition of UK Power Networks, which is expected to be completed by mid-2026, and will help maintain ENGIE's strong investment grade credit rating. A bridge loan provided by Bank of America and BNP PARIBAS fully guarantees the financing of this acquisition. The settlement and delivery of the new shares are scheduled around March 3, 2026. The new shares will be traded under the ISIN code FR0010208488 on Euronext Paris and Brussels and the Luxembourg Stock Exchange. ENGIE has committed to a 180-day lock-up period following the settlement-delivery date regarding the issuance or sale of shares or securities granting access to the capital. The French Republic, holding 23.6% of the capital, did not participate in this increase.
