Gore Street Energy Storage fund proposes £75m capital raise to acquire 'pipeline' of investments

Clarifies gearing change

clock • 2 min read

Gore Street Energy Storage fund has announced the details of a share issuance programme that seeks to raise £75m to be able to acquire and construct new energy storage projects.

The fund will issue 68,181,818 new ordinary shares at a price of 110 pence per share, by way of an initial placing, initial offer for subscription and initial intermediaries offer, with the option for the initial issue to be "upscaled", subject to demand and the discretion of the board. The issue price represents a discount of approximately 5.98% to the closing share price of 117 pence per ordinary share on 21 March 2022, the day before the fund announced its plans to issue new shares, and a premium of approximately 5.87% to the last reported NAV of 103.9 pence per share as at 31 Decembe...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Funds

abrdn to close Multi-Asset Climate Solutions fund after failure to build scale

abrdn to close Multi-Asset Climate Solutions fund after failure to build scale

Partnership with The Big Issue Group

Valeria Martinez
clock 17 May 2024 • 2 min read
Partner Insight: Remaining flexible to solve the income puzzle

Partner Insight: Remaining flexible to solve the income puzzle

Aegon Diversified Monthly Income Fund co-manager Debbie King reflects on how the fund has achieved a decade of consistent income delivery in an ever-changing macro environment.

Debbie King, Investment Manager @ Aegon AM
clock 15 May 2024 • 7 min read
JP Morgan AM launches euro-denominated public debt money market fund

JP Morgan AM launches euro-denominated public debt money market fund

Focused on EUR government debt

clock 13 May 2024 • 1 min read
Trustpilot