SEEIT fund raises GBP54.1m from new ordinary shares placing

Investment fund SDCL Energy Efficiency Income Trust plc has raised about GBP54.1 million (US$71.1 million) of gross proceeds after the launched non pre-emptive placing of new ordinary shares. 

The Fund has achieved oversubscription after it has initially intended to raise GBP40 million (US$64.7 million) on December 17. Up to 52 million shares at a price of GBP1.04 (US$1.34) apiece were placed that brought the total number of ordinary shares issued by SEEIT to over 320 million.

The placing was closed on December 18 with Jefferies International Limited serving as bookrunner. The trading in the new shares on the London Stock Exchange is expected to launch on December 23.