(Alliance News) - JLEN Environmental Assets Group Ltd on Thursday said it has raised GBP56.9 million through the placing announced on Tuesday last week.
The FTSE 250-listed renewable energy investment trust company said it will issue a total of 54.7 million new shares at the placing price of 104 pence.
JLEN Environmental Assets Group shares were trading 1.7% lower in London on Thursday at 104.16 pence each, giving it a market capitalisation of GBP570.1 million.
The company said it intends to use the net proceeds of the placing to pay down amounts outstanding under its revolving credit facility in order to create more funding headroom to meet existing commitments.
Following the admission, it will have 601.4 million shares overall.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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JLEN (JLEN)