(Alliance News) - Aquila European Renewables Income Fund PLC said it has raised gross proceeds of EUR40 million through the placing of 38.1 million shares at EUR1.05 each, significantly higher than previously announced.
The stock was flat at EUR1.06 each on Friday afternoon in London.
On Thursday, the fund said it intended to raise EUR25 million through a share placing to fund investment into wind and solar photovoltaic assets totalling 30 megawatts, located in the Nordic and Iberian markets.
On Friday, Aquila said that due to strong demand, the placing size was increased to EUR40 million. The placing price of EUR1.05 represents a premium of around 3.0% to the company's net asset value as at the end of 2019.
Following admission, the renewable energy infrastructure investment company's issued share capital will comprise 193.1 million shares.
By Ife Taiwo; ifetaiwo@alliancenews.com
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Aquila Euro. (AERS)