By Wendy Van Sickle
Columbus, Ohio, Sept. 14 – Renewables Infrastructure Group Ltd. announced it will raise £25 million through a placement of new ordinary shares.
Proceeds will be used to acquire a 22.5 megawatt onshore wind project in Scotland and to pay down the company’s acquisition facility, according to a news release.
The number of new ordinary shares to be issued and the issue price will be set following close of a bookbuilding process, which is set to conclude at 7 a.m. ET on Sept. 23, the company said.
Canaccord Genuity Ltd. and Liberum Capital Ltd. will act as bookrunners.
The new ordinary shares will, when issued, rank pari passu with the company’s existing ordinary shares.
Renewables Infrastructure is a London-based investment company with a focus on onshore wind farms and solar PV parks.
| Issuer: | Renewables Infrastructure Group Ltd.
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| Issue: | New ordinary shares
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| Amount: | £25 million
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| Announced: | Sept. 14
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| Bookrunners: | Canaccord Genuity Ltd. and Liberum Capital Ltd.
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