17th May 2016 11:12
LONDON (Alliance News) - The Renewables Infrastructure Group Ltd said Tuesday that it raised GBP30.3 million through the issue of 30 million new shares at 101 pence each, the initial issue of its share issuance program.
It plans to use the proceeds to pay down amounts drawn under its revolving acquisition facility. This will leave it with around GBP136 million available to be drawn down under the facility, and a balance of 270 million shares available for issuance under the share issuance program.
This puts it in a good position to take advantage of a strong pipeline of "attractive investment opportunities" currently under consideration by its investment manager and operations manager, Renewables Infrastructure said.
Shares in the company were up 0.5% at 101.40 pence Tuesday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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