(Alliance News) - Bluefield Solar Income Fund Ltd on Friday said it has raised GBP45 million through the placing of 36.5 million shares at 124 pence each.
Shares in the solar asset investor were trading 1.9% lower at 127.50p each on Friday afternoon in London, giving it a market capitalisation of GBP472.4 million.
On Monday, Guernsey-based Bluefield Solar announced the fundraise, stating that the cash raised would go toward future acquisitions or to repay its revolving credit facility.
"We are delighted with the success of this significantly oversubscribed placing, the first fundraise undertaken by Bluefield Solar since we broadened the investment mandate earlier this year. It places the Company in a strong position to continue with its growth plans in 2021 and we thank our shareholders for their support," said Chair John Rennocks.
Following admission, the company will have 407.0 million shares in issue.
By Ife Taiwo; ifetaiwo@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.
Bluefield Solar (BSIF)