Greencoat UK Wind raises £48 million

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Greencoat UK Wind raises £48 million

Greencoat UK Wind plc, the listed renewable infrastructure fund, solely and fully invested in operating UK wind farms, recently announced the £48 million result of its placing by way of tap issuance to institutional investors.

The investor raised 44,936,286 new ordinary shares, at an issue price of 107.5 pence per share.

Commenting on the announcement, Tim Ingram, Chairman of UKW, said:

"We are delighted to raise the maximum amount under our placing and see continued strong support from existing shareholders and new institutions. Our aim is to provide investors with an attractive and inflating dividend alongside real capital preservation. The significant oversubscription for this, our third follow-on fundraise demonstrates the attractiveness of UKW's independent model, providing investors with stability and growing long term returns." 

Application will be made for the new shares to be admitted to the Official List of the UK Listing Authority and to trading on the London Stock Exchange's main market for listed securities with effect from 8.00 a.m. on Monday, 30 November 2015. 

In February 2015, the UK government sold its entire 10.8% stake in Greencoat UK Wind Plc.

Pinsent Masons advised the UK Department for Business, Innovation and Skills (BIS) on its disposal of 50 million ordinary shares in the capital of the fund raising gross sale proceeds of £51.75 million (US$ 78.8 million).

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