Downing Renewables & Infrastructure Trust (DORE) is aiming to raise £50m through an issue of up to 45,669,495 new ordinary shares at 111p per share, and to establish a 12-month share issuance programme to issue up to 250m ordinary shares (less the number issued under this initial issue). Shareholders need to approve these plans.
The net proceeds from the initial issue are expected to be used to repay amounts drawn down under the company’s revolving credit facility (RCF), which currently amount to £17.3m, and to pursue the manager’s pipeline of investment opportunities. This includes c.£200m of near-term opportunities in hydropower, wind and solar assets in the UK, Sweden and Finland.
DORE managers Tom Williams, Tom Moore and Henrik Dahlstrom joined QuotedData analyst, Jayna Rana to discuss DORE’s performance to date, why now is the right time for a capital raise and the exciting pipeline of opportunities for DORE.
For further information on the fundraise please contact Sales Director, Nick Priest, at firstname.lastname@example.org.
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Darren Willis, Head of Corporate Broking at Winterflood Securities – firstname.lastname@example.org.