4th Jul 2018 09:10
LONDON (Alliance News) - Foresight Solar Fund Ltd said Wednesday it raised GBP48.1 million via a previously announced share placing.
The company issued 45.0 million shares in an "oversubscribed" placing. In June, the company said it planned to raise GBP40 million via issuing up to 45.0 million shares at 107 pence per share.
The net proceeds of the placing will be used as funding for the purchase of 18 operational solar assets in the UK for a consideration of GBP55.0 million. The company expects the acquisition to be complete by the end of July.
Admission of the new shares is expected on Friday, following which the company will have 494.9 million shares in issue.
Foresight shares were trading 1.4% higher at 109.00p each.
Related Shares:
Foresight Solar Fund