StockMarketWire.com - Greencoat Renewables said it had upsize the placing of shares following 'substantial excess demand' and confirmed it had raised gross proceeds of €147.7m through the placing of shares launched in early March.

'Due to demand substantially in excess of 100 million shares, we have agreed to upsize the Placing to 140 million shares and conclude the Share Issuance Programme launched in July 2018,' the company said.

In line with strategy, the proceeds of the placing launched on 4 March, would be used to pay down the company's existing debt, the company said.

The proceeds would also be sued to 'take advantage of further value accretive acquisition opportunities in Ireland,' including the potential acquisition of a 'high-quality operating asset' already under exclusivity, with a headline enterprise value of €76m and an expected close at the end of March 2019, the company added.

At 9:43am: [LON:GRP] Greencoat Renewables Plc share price was -0p at 1.07p



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