NextEnergy Raises Â£85.6 Million
NextEnergy Solar Fund Limited, a newly incorporated Guernsey company focused on operational solar photovoltaic assets located in the UK has announced that it has raised gross proceeds of Â£85.6 million in its Placing and Offer for Subscription.
Applications will be made to the UK Listing Authority for admission of 85.6 million Ordinary Shares to the premium segment of the Official List and to the London Stock Exchange for all such Ordinary Shares to be admitted to trading on the London Stock Exchange's Main Market for listed securities. It is expected that Admission will become effective and dealings in the Ordinary Shares will commence on the London Stock Exchange on 25 April 2014. The Company's ticker will be NESF.
Kevin Lyon, Non-Executive Chairman, said, "The Company has secured strong support from a number of top-tier institutional investors and private wealth managers. These investors have been attracted by the Company's focus on lower risk operating solar power plants in the UK, the experience and track record of the Investment Adviser and the Company's attractive RPI-linked target dividend. We look forward to updating investors on progress of deployment of the gross proceeds in the very near future and are pleased by the investor support to grow the Company's size significantly in the medium term."