VH Global Sustainable Energy to list in London on Feb 2

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January 7 (Renewables Now) - Closed-ended investment firm VH Global Sustainable Energy Opportunities Plc (GSEO) on Wednesday published the prospectus for its planned initial public offering (IPO) in London and said it expects it to close by January 27.

As previously announced, GSEO intends to raise up to GBP 400 million (USD 544m/EUR 442m) by way of an initial placing, an intermediaries offer and an offer for subscription of ordinary shares at an issue price of GBP 1 apiece. It expects to announce the results of the initial issue on January 28, while initial admission of the ordinary shares is to occur on February 2.

Numis Securities Ltd is the sponsor and sole bookrunner for the IPO.

GSEO’s strategy is to invest in a diversified portfolio of sustainable energy infrastructure assets, including carbon capture and renewables, located predominantly in countries that are members of the EU, OECD, OECD Key Partner Countries or OECD Accession Countries. It targets distributing an initial annual dividend on the ordinary shares of at least GBP 0.01 apiece for the first financial period after initial admission. The firm then plans to pay a dividend of GBP 0.05 a share for each financial year with the intention to progressively grow it over time.

"This fund is well positioned to find attractive investments that meet and exceed the energy-related UN Sustainable Development Goals," said Bernard Bulkin, Chair of GSEO.

The investment adviser to the company will be London-based Victory Hill Capital Advisors LLP, which has already identified a significant pipeline of sustainable energy infrastructure assets, worth about GBP 1 billion in total, that could be acquired by GSEO.

(GBP 1.0 = USD 1.359/EUR 1.105)

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