SDCL Energy Efficiency Income Trust PLC - London-based investor in energy efficiency, solar, and electric vehicle charging infrastructure projects - Increases the size of its placing to GBP160 million from GBP100 million due to strong demand. Last week Thursday, the company announced plans to raise GBP100 million from placing of 94.3 million new shares at 106.00 pence each but this Friday says it will issue 150.9 million additional shares at the same price.
SDCL Energy will use cash raised for several "organic" opportunities for further investment within the existing portfolio, new investments in commercial and industrial solar projects in the US and in EV charging projects in the UK as well as to repay existing debt facilities of GBP65 million. Following admission, SDCL will have 677.1 million shares in issue.
Current stock price: 107.82 pence
Year-to-date change: up 1.2%
By Ife Taiwo; ifetaiwo@alliancenews.com
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Sdcl Energy Ef. (SEIT)