Downing Renewables & Infrastructure Trust Raises More Than Expected in Discounted Placing
June 23 2022 - 04:26AM
Dow Jones News
By Kyle Morris
Downing Renewables & Infrastructure Trust PLC said Thursday
that it has raised around 52.9 million pounds ($64.9 million) via a
discounted share-placing, an open offer and a subscription, beating
its expectation.
The U.K.-based trust said the proceeds will be used to repay its
revolving credit facility and to invest in its pipeline of
near-term opportunities.
The company said it received applications for 47.6 million
shares at a price of 111 pence apiece, exceeding the target size of
the initial issue.
On June 7, the company said it planned to raise around GBP50
million via a discounted share-placing, an open offer and a
subscription.
Shares in Downing Renewables & Infrastructure Trust at 0734
GMT were down 1.00 pence, or 0.9%, at 110.50 pence.
Write to Kyle Morris at kyle.morris@dowjones.com
(END) Dow Jones Newswires
June 23, 2022 04:11 ET (08:11 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
Downing Renewables & Inf... (LSE:DORE)
Historical Stock Chart
From May 2022 to Jun 2022
Downing Renewables & Inf... (LSE:DORE)
Historical Stock Chart
From Jun 2021 to Jun 2022
