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(Alliance News) - Gore Street Energy Storage Fund PLC on Thursday said it has raised GBP9.5 million from strategic partner National Treasury Management Agency, and proposed a further equity fundraising to fund new investment opportunities.
The company said NTMA subscribed for 10.1 million shares at a price of 93.8 pence each. The price represents a 1.3% discount to the closing mid-market price per share on Wednesday.
Gore Street shares were trading 1.0% lower on Thursday in London at 94.02p each, giving it a market capitalisation of GBP44.8 million.
In addition, Gore Street proposed a further share placing at 93.8p each, to fund new investment opportunities from its pipeline of energy storage projects in the UK and internationally.
The placing will open on Thursday and will close on Wednesday next week. The company did not disclose how many shares it intends to issue or what amount of money it will look to raise.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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