Acciona to Launch Renewable Unit IPO in Green Stocks Flurry (1)

Acciona SA, the Spanish engineering and construction firm controlled by the Entrecanales family, is taking its renewables unit public, joining a rush by Spanish companies to raise funds from investors hungry for green stocks.

The board of the Madrid-based firm decided at a meeting on Thursday to start the process to launch an initial public offering of Corporacion Acciona Energias Renovables, the company said in a regulatory filing after the meeting ended. Shares jumped 11% in Madrid trading at the highest since Sept. 2008

A handful of green companies are working on possible listings of renewable assets in Madrid, ...