NextEnergy Renewables publishes prospectus – NextEnergy Renewables has announced the publication of a prospectus in relation to its initial public offering (IPO). As promised, here is a link to the prospectus, which was published today. As the prospectus makes clear, access to the issue is subject to some geographical restrictions. Make sure you read these.
As always, we aren’t recommending that you buy the stock but we think it is interesting and you might want to read about it. The offer isn’t open to everyone – you should read the disclaimers and the risk warnings in the prospectus.
NextEnergy Renewables is seeking to raise up to £300m via an initial placing, offer for subscription and intermediaries offer, with flexibility to raise up to £500m. A twelve-month placing programme has also been launched and will be able to be carried out over the 12 month life of the prospectus.
J.P. Morgan Cazenove is acting as global coordinator and joint bookrunner, Kempen & Co is acting as joint bookrunner and Dickson Minto W.S. is acting as sponsor.
Expected timetable:
- Offer for subscription close 11.00 a.m. on 4 March 2021
- Intermediaries offer close 11.00 a.m. on 4 March 2021
- Initial placing close 5.00 p.m. on 4 March 2021
- Announcement of results of initial issue 5 March 2021
- Admission of ordinary shares 10 March 2021
NREN : NextEnergy Renewables publishes prospectus