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Greencoat Renewables PLC - Dublin-based investor in euro-denominated renewable energy infrastructure assets - Launches placing under existing 400 million share issuance programme launched in early October at a price of €1.12 per share.
Placing price reflects a discount of 6.7% to Greencoat's closing price of €1.20 on Euronext Dublin on Friday last week.
Proceeds from the fundraise will go towards taking advantage of multiple near-term investment opportunities in Ireland and continental European markets, with 380 megawatts currently under exclusivity.
‘We are pleased to announce a second equity issuance under our existing share issuance programme launched in October 2021, reflecting the strength of our pipeline and continued confidence in our ability to deliver value-accretive growth for shareholders,’ says Chair Ronan Murphy.
‘The growth and strategic diversification we have achieved in the business reflects our market-leading position in the Irish market and our strong relationships and expanding footprint across continental Europe. Since the launch of the current share issuance programme, we have acquired our first asset in Sweden and agreed our first forward-sale transaction in Spain,’ Murphy adds.
Current stock price: €1.15
12-month change: down 0.9%
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