New Athens bourse arrival ELTEX Anemos will invest all the proceeds of its IPO, estimated at 32.6 million euro, for the development of four wind-energy parks, the firm has announced.

The company will also draw from available company funds, and also receive backing in the form of a long-term loan, to cover the project’s remaining financing needs, its board decided just days ago.

The firm’s funds and long-term loan to finance ELTEX Anemos’s four wind-energy parks will reportedly amount to 4.98 million euro.

The ELTEX Anemos company’s shares, titled Anemos, will begin trading on the Athens Stock Exchange on July 22 at a starting price of 1.70 euro per share.