Atrato Onsite Energy plc (ROOF) has announced that its IPO has raised £150m through a significantly oversubscribed issue. The maximum size of the IPO was £150m, this being the amount that the Investment Adviser believes can be deployed within 12 months from the trust’s admission (expected at 8am on 23 November 2021). However, ROOF’s IPO saw substantial investor demand that covered the maximum IPO size multiple times and, as such, a material scaling back exercise was undertaken. (click here to read our coverage of its IPO announcement.)ROOF is a new renewables investment trust focusing on UK commercial rooftop solar, which aims to provide investors with capital growth and secure, index-linked income. Hitting the roof – Atrato Onsite Energy IPO significantly oversubscribed
Comments from Juliet Davenport OBE, Chair of Atrato Onsite Energy Plc
“The Board is delighted with such strong support from a wide range of retail and institutional investors. This demonstrates the alignment of the investment community with our mission to build new renewable energy capacity to help meet the UK’s binding net zero emissions target and meaningfully contribute to the green economy.”
Comments from Gurpreet Gujral, Managing Director of Atrato Partners Limited
“Atrato Onsite Energy plc aims to be the partner of choice for UK businesses considering rooftop solar in their plans to reach net zero. We are already working closely with our corporate customers to reduce both their carbon footprints and energy costs, and we look forward to updating our investors on our progress.”