Foresight Solar raises GBP 36.1m in share placing
Mar 13, 2015 18:17 CET
March 13 – Foresight Solar Fund Ltd (LON:FSFL) has raised GBP 36.1 million (USD 53.2m/EUR 50.5m) of gross proceeds in a share placing, the UK investor said today.
The company is issuing 36.1 million ordinary shares, which are expected to be admitted to trading on the London Stock Exchange on March 17.
Foresight Solar announced plans for the placing on February 19. It is to use the proceeds to repay its existing acquisition facility and to take advantage of additional investment opportunities in the UK market.
The share sale is part of the company’s placing programme, established in September last year, whereby it looks to issue up to 200 million ordinary shares. It raised GBP 60.1 million of gross proceeds in its initial fundraising under the programme in October 2014.
(GBP 1.0 = USD 1.475/EUR 1.400)
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