In QuotedData’s morning briefing 31 August 2021:
- The Renewables Infrastructure Group (TRIG) has announced a conditional offer for subscription via PrimaryBid of new ordinary shares of nil par value each. They will be issued at a price of 124 pence, being a discount of 3.6% to the mid-market closing share price of 128.6p on 27 August and a discount of 5.9% to the 30 day volume weighted average price of 131.7p. The company is also conducting a placing of new ordinary shares. Both are conditional on the shares being admitted to trading on the London Stock Exchange’s main market for listed securities. TRIG will use the funds raised to repay amounts drawn under its revolving credit facility and to meet near-term funding requirements.
- BMO Private Equity (BPET) has posted its interim results for the six months to 30 June 2021. During the period, the NAV total return was 15.4%. With the share price discount having reduced from 36.8% at 31 December 2020 to 24.3% at 30 June 2021, the share price total return for the period was 39.1%. The chairman said: “This has been an exceptionally strong period with the Company benefitting from uplifts in valuation driven by improved trading as the recovery from the worst phase of the pandemic takes root. There have also been some improvements in valuation multiples reflecting generally buoyant markets and there have been some significant realisations at above the most recent carrying values. There has been considerable activity in the underlying portfolio with new deals and realisations”.
We also have IPO news from Blackfinch Renewable European Income and Responsible Housing REIT, a potential £262m equity raise by Home REIT and a big portfolio buy from Regional REIT.