IN BRIEF: Octopus Renewables nets GBP73.9 million to expand portfolio

Octopus Renewables Infrastructure Trust PLC - UK-based closed-ended investor in renewable energy ...

Alliance News 3 December, 2021 | 6:10PM
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Octopus Renewables Infrastructure Trust PLC - UK-based closed-ended investor in renewable energy assets - Says it has successfully raised gross proceeds of GBP73.9 million via a share placing and offer for subscription via the Peel Hunt Retail Capital Markets 'REX' portal. The trust says GBP69.0 million was raised pursuant to the placing and a further GBP4.9 million was raised pursuant to the 'REX' retail offer. Shares were priced at 105.5 pence per share, with proceeds used to help to fund the expansion of the company's portfolio.

"We are delighted to announce this successful and oversubscribed fundraise, raising GBP73.9 million to invest in renewable energy assets to further diversify our portfolio as we support the energy transition. I would like to thank our shareholders for the continued support over the last two years, which allows our investment manager to continue to pursue compelling opportunities and build on our high quality, diversified portfolio," says Chair Phil Austin.

Current stock price: 105.40p

Year-to-date change: down 7.3%

By Arvind Bhunjun; arvindbhunjun@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Octopus Renewables Infrastructure Ord 108.80 GBX 0.74 -

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