By Lisa Kerner
Charlotte, N.C., May 17 – Renewables Infrastructure Group Ltd. raised proceeds of £30.3 million through the issue of 30 million new ordinary shares at an issue price of 101p each.
Applications were received for 3,161,896 new ordinary shares under the initial offer for subscription, and 26,838,104 new ordinary shares were applied for under the initial placing.
Canaccord Genuity and Liberum Capital acted as joint bookrunners.
Proceeds will be used to pay down amounts drawn under the company’s revolving acquisition facility, according to a news release.
The new shares will rank pari passu with the company’s existing ordinary shares and will be entitled to receive the interim dividend of 1.5625p per share declared on May 5 and payable on June 30.
The company expects the shares to be listed on the London Stock Exchange’s main market for listed securities on May 19.
Renewables Infrastructure is a London-based investment company with a focus on onshore wind farms and solar PV parks.
| Issuer: | Renewables Infrastructure Group Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | £30.3 million
|
| Shares: | 30 million
|
| Price: | 101p
|
| Bookrunners: | Canaccord Genuity, Liberum Capital
|
| Announcement date: | April 27
|
| Settlement date: | May 17
|
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