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Greencoat Renewables PLC - Dublin-based investor in euro-dominated assets - Raises EUR165 million through oversubscribed placing of 148.6 million shares at a price of EUR1.11 each.
Proceeds from the fundraise will go towards a growing pipeline of opportunities in continental Europe and Ireland, as well as partly pay down the company revolving credit facility, which is currently down by EUR115 million.
"I am pleased to announce another successful and oversubscribed placing, and I thank shareholders for their ongoing strong support. The company is well positioned in terms of pipeline, gearing and headroom for acquisitions, and I am very optimistic about our prospects for near and medium term growth across Europe," said Chair Ronan Murphy.
The company's total issued share capital now comes up to 889.9 million shares.
Current stock price: EUR1.12
Year-to-date change: down 5.1%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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