SEEIT looks to raise £135 million with new share offering

SEEIT acquires 69MW renewable energy portfolio from United Utilities

Published: 9 Sep 2022, 11:12

The share offering follows SEEIT acquiring a 69MW portfolio of onsite renewable energy projects from United Utilities Group in July. Image: United Utilities.

SDCL Energy Efficiency Income Trust plc (SEEIT) has announced a new share offer as it looks to raise approximately £135 million.

The company will issue 118,421,053 new ordinary shares at a price of 114 pence per share. Of these, 113,281,683 new ordinary shares will be issued under the placing, and the remaining 5,139,370 will be issued under the retail offer resulting.

SEEIT has applied for the shares to be issued under the premium listing segment of the Official List of the Financial Conduct Authority, and to be traded on the premium segment of the Main Market of the London Stock Exchange.

The trading of the new shares was expected to start at 8am today (9 September 2022)

It follows SEEIT expanding its operations in recent years, including acquiring a 69MW portfolio of onsite renewable energy projects from United Utilities Group for approximately £100 million in July.

In 2020, the company announced that it was looking to invest more than £100 million in assets including rooftop solar, with the company continuing to build out its portfolio of assets.

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