LONDON (Alliance News) - Greencoat Renewables PLC said on Tuesday it raised EUR111 million through the issue of 110 million shares at a price of EUR1.01 per share.
Shares in the renewable infrastructure company were up 0.5% at EUR1.03 on Tuesday.
Proceeds will go towards refinancing Greencoat's revolving credit facility, which will enable the group to make acquisitions while maintaining its total gearing within the target range.
"We are very pleased with the support from new and existing investors in our first follow-on fundraising since our oversubscribed IPO 12 months ago. We look forward to completing the fundraising following our EGM next week and continuing to acquire value-accretive wind generation assets in Ireland's attractive secondary market," said Chairman Ronan Murphy.
Following the issue, Greencoat Renewables now has 380 million shares issued overall.
Greencoat Renewables (GRP)