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Greencoat Renewables PLC - Dublin-based investor in euro-dominated assets - Announces 12-month share issuance programme of up to 400 million new shares in a number of tranches at EUR1.11 each. The proceeds will be used to pursue a growing pipeline of opportunities in continental Europe and Ireland. The final number of placing shares will be determined at the discretion of the company, Davy and RBC Capital Markets at the close of the bookbuild, expected on October 18.
Non-Executive Chair Ronan Murphy says: "Over the past year the business has built an excellent platform for expansion into the continent, with a very strong financial position, and long-term, trusted relationships. This share issuance will enable further value-accretive growth whilst maintaining leverage within the target range."
Current stock price: EUR1.13
Year-to-date change: down 4.6%
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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