Aquila European Renewables PLC - London-based closed-ended investment company focused on energy efficiency projects - Intends to seek listing on Euronext Dublin market. News follows announcement in May of its intention to explore secondary listing. Aquila European Renewables is not raising any new funds and will not place or issue any new shares in connection with the proposed admission, expected on Monday next week. Company will continue trading as well in premium segment of the London Main Market.
Chair Ian Nolan says the move will "help secure recognition in the share price of the [portfolio's] real underlying value...Given the diverse European focus of the company's strategy and its euro denomination, we believe a European listing will further enhance the company's marketability and appeal in Europe thereby also potentially enhancing liquidity of the underlying shares and providing opportunities for further growth."
Current stock price: 72.72 pence, up 0.3% in London on Thursday
12-month change: down 18%
By Emma Curzon, Alliance News reporter
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Aquila Euro. (AERS)
Aquila Euro. (AERI)