Aquila European Renewables Income Fund has raised €40m through a share placement, with the placing size increased from an original target of €25m due to strong demand.
The company said that, even with the increased size, the placement was oversubscribed with demand from both existing and new investors.
A total of 38,095,235 new ordinary shares will be issued at €1.05 per share, which represents a premium of 2.9% to the company’s ex-dividend net asset value on 31 December 2019.
Aquila has applied for the 38,095,235 shares to be admitted to the premium segment of the Official List, and for trading on the London Stock Exchange’s Main Market for listed securities.
Admission is expected to become effective and dealings in the shares to commence at 8am on 10 March 2020.
Following the admission, the company’s issued share capital will consist of 193,053,577 ordinary shares, Aquila said.