19th Nov 2021 10:36
(Alliance News) - Atrato Onsite Energy PLC on Friday said it has raised GBP150 million from its initial public offering, ahead of its debut on London's Main Market next week.
The investor in onsite renewable energy assets first unveiled its plans for a float in October. Dealings will begin on Tuesday.
It said 150.0 million shares were offered at 100 pence during the IPO. The company said it received "substantial" investor interest, so a "material" scale back exercise was implemented.
Alvarium Securities Ltd is acting as global co-ordinator, sole bookrunner, and intermediaries offer adviser.
Chair Juliet Davenport said: "The board is delighted with such strong support from a wide range of retail and institutional investors. This demonstrates the alignment of the investment community with our mission to build new renewable energy capacity to help meet the UK's binding net zero emissions target and meaningfully contribute to the green economy."
Atrato Partners Ltd will serve as its investment adviser.
Back in October, the company said it was planning an annualised dividend of 5 pence per share for the first and second financial years following the IPO, before a progressive dividend policy thereafter.
By Eric Cunha; [email protected]
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