Downing Renewables & Infrastructure Trust PLC - investor in solar parks, wind farms and hydroelectric plants - Intends to raise about GBP25 million through a placing, where up to 25.0 million shares will be available at a price of 102.50 pence each.
Placing price reflects a 1.7% discount to the trust's closing share price of 104.25p on Tuesday.
Proceeds from the placing will go towards taking advantage of pipeline assets identifies by the investment manager, including four opportunities in negotiations with a total investment amount of around GBP87 million.
Singer Capital Markets Securities will act as bookrunner for the placing.
Current stock price: 103.32 pence
Year-to-date change: up 3.3%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Downing Renewa. (DORE)