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Greencoat UK Wind Accelerates Closing Of Placing After Strong Demand (ALLISS)

LONDON (Alliance News) - Greencoat UK Wind PLC on Tuesday said it has accelerated the closing of ...

Alliance News 12 February, 2019 | 8:52AM
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LONDON (Alliance News) - Greencoat UK Wind PLC on Tuesday said it has accelerated the closing of its share placing to 1630 GMT on Tuesday, due to "material investor demand".

On February 1, Greencoat UK Wind said it will raise up to GBP131 million through a 102.9 million share placing at a price of 127 pence per share.

The placing was originally intended to close on Thursday, and the proceeds to go towards the repayment or reduction of future drawdowns under the company's revolving credit facility.

Also on February 1, Greencoat said it will acquire a 36% stake in the Stronelairg and Dunmaglass wind farms from SSE PLC for GBP452 million. The acquisition is expected to be completed by the end of March.

Shares in FTSE 250-listed wind farm investor were up 1.1% at 131.00 pence on Tuesday, giving it a market capitalisation of GBP1.48 billion.

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Greencoat UK Wind 147.40 GBX 0.27 -

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