19th Dec 2019 13:06
(Alliance News) - SDCL Energy Efficiency Income Trust PLC on Thursday said it has increased the size of a planned share placing due to high demand.
On Tuesday, London-based SDCL proposed raising up to GBP40 million to fund investments into new projects.
However, SDCL said Thursday the placing was "significantly" oversubscribed, meaning it has now upped the size of the placing to GBP54.1 million. It will place 52 million new shares at 104.00 pence each.
The stock was 1.7% higher in afternoon trade on Thursday at a price of 106.74 pence a share.
"We are delighted with the response from investors to our third capital raise since our IPO a year ago. In light of the offer being significantly oversubscribed we have upscaled our offer size to GBP54.1 million. These funds will allow us to continue to execute on our extensive pipeline of acquisition opportunities," said SDCL.
"This is a very exciting time to be investing in energy efficiency, which plays a key role in reducing carbon emissions, and we continue to focus on ensuring we create value and deliver stable returns for our shareholders."
Earlier in December, the investor reported it had tripled in size since floating in London in December 2018, when it raised GBP100 million.
By George Collard; [email protected]
Copyright 2019 Alliance News Limited. All Rights Reserved.
Related Shares:
Sdcl Energy Ef.