RENEWABLES Infrastructure Group (Trig) announced the successful completion of a £110m fund raising project yesterday.
The announcement follows four weeks in which 107.5m shares were issued at £1.02p each to individuals and wealth funds in three installments which were oversubscribed. Proceeds from the equity raising have been used to repay fully the group’s revolving acquisition facility, which was approximately £69m drawn.
Furthermore, the additional cash resources will be used to take advantage of attractive investment opportunities currently under consideration by the firm.
Commenting on yesterday’s announcement, Helen Mahy, non-executive chairman said: “The board is delighted with the response to our fund raising campaign which has seen demand far outstripping our targets.”