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(Alliance News) - Gresham House Energy Storage PLC said on Thursday that it would place new ordinary shares at a discount to provide more funding for the company.
The company, which owns utility-scale energy storage systems, did not disclosed how many shares would be placed but said they would be priced at 105.00 pence each, 4.1% lower than 109.50p stock price at the close of business on Wednesday.
Shares in the company were down 0.9% at 108.49p each in London on Thursday afternoon.
In May, Gresham House placed 149.2 million shares to raise GBP49.7 million gross to fund the purchase of new energy systems.
The company's also said in May that there were potential investors conducting due diligence on the energy storage asset class and further share placings could be made before the share placing programme closes on October 16.
The company will announce results of the new placing on Friday.