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Gresham House Energy Storage Fund PLC - London-based specialist alternative asset manager - Aims to raise approximately GBP80 million through a share placing and retail offer to fund its Project Iliad acquisition, a 160 megawatts solar battery energy storage project in California. Up to 54.1 million new shares, 10% of the company's current total, will be sold at a fixed price of 155.5 pence per share. Placing will be run by investment bank Jeffries International Ltd. Size of retail offer will be capped at the sterling equivalent of EUR8 million.
Project Iliad requires a total equity consideration of GBP135 million.
Current stock price: 156.36 pence, down 1.4% on Thursday
12-month change: up 4.9%
By Sabrina Penty, Alliance News reporter
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