4th Feb 2020 15:35
(Alliance News) - Gore Street Energy Storage Fund PLC on Tuesday said two new investors will subscribe for GBP1.5 million in shares under its placing programme.
The company, which invests in the renewable energy sector, said it has simultaneously launched an accelerated bookbuild to enable any existing or other investors to participate under the same terms.
The placing will take place through the company's broker, Shore Capital, and is open with immediate effect.
The shares will be issued at a price of 95.9 pence each, Gore Street said. The stock was trading 0.2% higher in London on Tuesday at 95.69p a share, giving the company a market capitalisation of GBP46.8 million.
It is intended that the net proceeds of the placing will be used to fund investment opportunities from the investment adviser's considerable pipeline of energy storage projects in the UK and internationally, Gore Street said.
By Evelina Grecenko; [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
Gore Street En.