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Share Price Information for Greencoat Renewables (GRP)

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Share Price: 0.864
Bid: 0.852
Ask: 0.88
Change: 0.00 (0.00%)
Spread: 0.028 (3.286%)
Open: 0.854
High: 0.864
Low: 0.854
Prev. Close: 0.866
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Greencoat Renewables is an Investment Trust

To provide attractive risk-adjusted returns to shareholders through annual dividend increase and capital value growth by investing in renewable energy generation assets within the Eurozone, focus on Ireland.

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Greencoat Renewables Sees Strong Placing Uptake, Raises EUR125 Million

Tue, 10th Dec 2019 14:54

(Alliance News) - Greencoat Renewables PLC on Tuesday said it has raised EUR125 million under a previously announced share placing to refinance a revolving credit facility, which will allow the company to make acquisitions.

Under the placing, Greencoat will issue 110.6 million shares at EUR1.13 per share, increasing the company's total issued share capital to 630.6 million shares. The placing is subject to shareholder approval at the company's general meeting scheduled on Monday next week.

Greencoat Renewables shares were up 3.2% at EUR1.20 each in London on Tuesday afternoon.

The renewable infrastructure company in November launched a share placing to raise EUR100 million to fund wind farm acquisitions and pursue opportunities in European markets.

Ronan Murphy, chair of Greencoat Renewables, said: "The oversubscribed placing demonstrates their confidence in the business and will enable us to deliver on our strategy. We look forward to completing the fundraising at our EGM on 16th December and continuing to add value for our shareholders through the acquisition of value-accretive assets in Ireland and our target European countries."

The extraordinary general meeting will be held in Dublin on Monday next week.

By Tapan Panchal; tapanpanchal@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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