IN BRIEF: Ecofin US Renewables Infrastructure IPO Taps USD125 Million
Fri, 18th Dec 2020 14:24
Ecofin US Renewables Infrastructure Trust PLC - invests in US renewable energy assets - Raises USD125 million in initial public offering on London Main Market, with each share priced at USD1.00. Says investment manager, Ecofin Advisors LLC, subscribed for 8.5 million shares, and a fund managed by Capricorn Investment Group subscribed for 22.5 million shares. The non-executive directors of Ecofin US Renewables took 147,481 shares. Stifel Nicolaus Europe Ltd was sponsor and sole bookrunner for the IPO. Trading is expected to begin on Tuesday next week. Says Ecofin Advisers will target renewable energy assets that benefit from supportive government incentives and fixed revenue contracts of 10 to 25 years or more.