24th Sep 2021 11:32
Gore Street Energy Storage Fund PLC - London-based fund investing in energy storage assets - Closes oversubscribed PrimaryBid offer early. Says it closed the EUR1.2 million offer to retail investors on Thursday afternoon. Its non pre-emptive placing of 67.9 million shares, priced at 107.0 pence each, remains open. The GBP72.7 million placing is scheduled to close next Wednesday, with result due to be announced on Thursday.
Gore Street announced the fundraise after committing the last of its funds to acquire a 57 megawatt energy storage project in Leicester. The fund expects capital expenditure for the Leicester project to total around GBP22 million over the next 12 to 18 months. The project is currently scheduled to become operational in 2023, the company adds.
Current stock price: 109.34p, down 0.2% on Friday morning
Year-to-date change: up 5.1%
By Scarlett Butler; [email protected]
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