CORRECTED (OFFICIAL) - Greencoat UK Wind gets GBP 48m from placing
In our story dated November 25 and headlined "Greencoat UK Wind gets GBP 50m from placing" please read "GBP 48 million" instead of "GBP 50 million" in the headline and the lead paragraph and "Around 44.9 million" instead of "A bit over 46.1 million" in the third paragraph (source corrects data).
Greencoat UK Wind plc said Friday it has incorrectly stated the maximum number of shares that could be issued under the placing.
A corrected version follows:
Greencoat UK Wind plc (LON:UKW) said it has raised gross proceeds of GBP 48 million (USD 72.1m/EUR 68.2m) from its tap issuance to institutional investors.
The fund, which invests in operating UK wind farms, launched the placing earlier this month and this was the maximum amount sought. The issue represents Greencoat UK Wind's third follow-on fundraise and was significantly oversubscribed, according to a press release.
Around 44.9 million new shares will be issued.
The company previously said it would use the proceeds to part-fund an acquisition it had been working towards on an exclusive basis. "We are well placed to take advantage of the substantial growth in the UK wind farm secondary market, and have made significant progress on developing our pipeline of near-term investment opportunities," it said when launching the placing.
The fund is currently invested in 16 wind farms with net capacity of 271.5 MW.