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Good Energy Group to raise £4 million in placing as makes AIM debut

Good Energy Group to raise £4 million in placing as makes AIM debut

Renewable energy specialist Good Energy Group is soon to make its debut on AIM having raised £4 million in a placing.

The firm said today it expects its shares to begin trading on the London market next Monday (July 30).

The firm wants to prompt a change in the UK energy market.

It wants to see power generation decentralised and more energy produced at home and in communities.

It also invests in new sources of renewable generation for Britain through onshore wind and renewable heat projects.

It has conditionally placed around 4.7 million shares at 85 pence each to raise gross proceeds of £4 million, it said in a statement.

The cash will be used to develop brand awareness and to advance new partnerships with national membership organisations and to further develop the firm's trading platform and credit lines.

The fundraising was arranged by N+1 Brewin with institutional investors. 

The firm's shares have been traded on PLUS since 2004, from which it will withdraw when it lists on AIM, and the new listing is part of the firm's development.

The board also believes there is increasing need to seek access to institutional investors to help continue the group's growth.

It also thinks listing on AIM will improve liquidity in the shares and enhance the firm's brand and market recognition.

View full GOOD profile View Profile

Good Energy Group Timeline

Newswire
May 24 2016

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