JSE LISTING
Foresight Solar aims to raise £50m
The specialist investment vehicle planning a secondary listing on the JSE has no investments in SA yet, but believes there could be opportunities in future
Foresight Solar Fund, the specialist investment vehicle that announced last week it would take a secondary listing on the JSE on April 3, will place shares with selected investors at 107.75p each to raise up to £50m, it said on Tuesday. The JSE listing of the investment fund, with a portfolio of 18 power plants in the UK, marks the growing maturity of SA’s renewables sector. According to the December quarter report from the Department of Energy’s Independent Power Producers office, by the end of December the government had procured 6,422MW of renewable power in seven bid rounds, of which 2,902MW had been connected to the grid. Foresight Solar has no investments in SA yet, but believes there could be opportunities in future. The pricing of Foresight Solar’s private placement is at a slight premium to its audited net asset value of 105.6p a share at February 23. The new shares would receive the interim dividend of 1.55p a share declared for the December quarter, which will be paid on ...
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