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LONDON (Alliance News) - Greencoat UK Wind PLC on Thursday said it has raised GBP375 million in gross proceeds pursuant to its previously announced share issuance programme.
The renewable infrastructure investor earlier in May said it will undertake a series of fundraises over the next 12 months to reduce borrowing, enable further investment, and increase the liquidity of its shares. Subsequently, it launched an initial placing and subscription at 133 pence a share.
Greencoat on Thursday said it issued 281.9 million shares at 133p. Shares in the company up 0.2% at 134.00p in morning trade.
The company expects to issue up to 500 million new shares over the next 12 months pursuant to the share issue programme.
"This equity capital raise enables UKW to continue to leverage our experience and acquisition expertise to make further attractive investments and provide dependable returns to shareholders," said Stephen Lilley of Greencoat Capital LLP.
Greencoat Capital is the investment manager to Greencoat UK Wind.