Bluefield Solar starts trading in London

Jul 12, 2013 - UK-focused Bluefield Solar Income Fund Ltd (LON:BSIF) said today that its stock had commenced trading on the London Stock Exchange (LSE) after its just-completed initial public offering (IPO).

The company raised GBP 130 million (USD 197m/EUR 151m) in the IPO by selling 130 million shares, It will use the proceeds to invest in solar projects. “The Fund has been backed by a broad range of investors, including some of the largest fund management groups globally and in the UK, which is a clear reflection that solar energy assets are rightly being recognised as a great way to earn long term, stable income,” said today James Armstrong, managing partner of Bluefield Partners, the investment adviser to the fund.

The fund will now be structured as a Guernsey incorporated closed-ended investment company with an indefinite life. It previously said that it would only provide funding to solar projects, without building them, as it looks to cut its operational risk.

Bluefield is now listed on the Main Market of the LSE.

(GBP 1 = USD 1.513/EUR 1.159)

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