SDCL Energy Efficiency Income Trust raises £250m in latest equity issue

Exceeded initial £175m target

Lauren Mason
clock • 2 min read
SEEIT, which floated in December 2018, now has a market cap of more than £1bn. Credit: BMW
Image:

SEEIT, which floated in December 2018, now has a market cap of more than £1bn. Credit: BMW

The SDCL Energy Efficiency Income Trust (SEEIT) has received £250m through the issuance of new ordinary shares, following its announcement earlier this month that it would look to raise additional capital.

The trust, which was initially targeting a raise of £175m through the issue of new ordinary shares, received "strong support from both retail and institutional investors", according to the board, as it sought to invest in "an extensive pipeline of opportunities with a value of over £600m". These opportunities included investment in electric vehicle charging infrastructure projects, solar and storage projects and sustainable on-site electricity generation. SEEIT's board, alongside its investment manager and bookrunner Jeffries International, decided to increase the target size of its init...

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