Silva, RuiSoares, MargaridaBelo, Rita Afonso Machado2025-09-082025-09-082025-01-132024-12-17http://hdl.handle.net/10362/187661In mid-2021, Altri announced its intention to list its renewable energy subsidiary, Greenvolt, on Euronext Lisbon. The company aimed to diversify its portfolio, increase brand recognition, and become a major European player, but faced a capital shortage to support the strategy. The following case study delves into the CEO’s journey towards deciding whether to proceed with the IPO or keep Greenvolt a private entity and pursue alternative capital raising options. Given this, an analysis was performed to assess Greenvolt’s valuation and the potential implications of market conditions on the success of the listing.engInitial Public OfferingCorporate financeCapital raising methodsAdvantages versus disadvantagesFinancial analysisShare priceMarket timingSustainabilityEnergy transitionRenewablesBusiness modelValuationFair ValueUnderpricingmaster thesis203961099