Jul 24, 2013 - UK firm The Renewables Infrastructure Group (TRIG) raised GBP 300 million (USD 460.8m/USD 348.1m) in its initial public offering (IPO) on the London Stock Exchange (LSE).
The company plans to use the proceeds from the transaction to buy 14 onshore wind farms and four photovoltaic facilities with a combined capacity of 276 MW in the UK, France and Ireland, TRIG said in a statement today.
TRIG's diversified portfolio of onshore wind and solar photovoltaic generation assets will provide investors with the potential to secure an attractive yield, non-executive chairman Helen Mahy said in the statement.
Furthermore, TRIG has a right of first offer over assets developed by UK firm Renewable Energy Systems Ltd (RES) worth some GBP 200 million in enterprise value annually.
Canaccord Genuity Ltd and Jefferies International Ltd were appointed as joint sponsors and bookrunners of the IPO, with TRG expected to start trading on the stock exchange on July 29.