DORE raises nearly GBP 53m from share issuance

Image by: Downing LLP.

June 24 (Renewables Now) - Downing Renewables & Infrastructure Trust Plc (LON:DORE) said today it has raised some GBP 52.9 million (USD 65m/EUR 62m) in gross proceeds from a previously announced share issuance.

The closed-ended investment trust has received applications in respect of 47.6 million ordinary shares at a price of GBP 1.11 apiece, thereby exceeding the GBP-50-million target size of the initial issue.

“These proceeds will be used to repay the revolving credit facility and to invest in an attractive pipeline of near term opportunities, which are intended to further diversify our portfolio,” commented Hugh Little, Chair of DORE. He added that as a result of the fundraise, the company’s market capitalisation will surpass GBP 200 million.

(GBP 1 = USD 1.223/EUR 1.165)

Join Renewables Now's free daily newsletter now!

More stories to explore
Share this story
About the author
Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription