17th Dec 2019 18:04
(Alliance News) - SDCL Energy Efficiency Income Trust PLC late Tuesday said it is proposing to raise up to GBP40 million through the issue of new shares.
SDCL said the placing will be priced at 104.0 pence per share. Shares in SDCL closed 1.9% higher in London on Tuesday at 110.00 pence each.
The company said it plans to use the proceeds from the placing to fund certain identified projects.
"The company continues to have a healthy and diverse pipeline of energy efficiency investment opportunities and intends to use the net proceeds of the placing, together with existing cash reserves, to assist in funding the acquisition of certain identified project assets. In particular, the company has entered into an exclusivity arrangement in relation to an acquisition of a substantial interest in a portfolio of energy efficiency and co-generation projects located in the US," SDCL said.
Jefferies International Ltd will act as sole bookrunner for the placing.
By Paul McGowan; [email protected]
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Related Shares:
Sdcl Energy Ef.