Downing Renewables & Infrastructure Trust PLC - investor in solar parks, wind farms and hydroelectric plants in UK, Sweden and Finland - Raises £52.9 million, from selling 47.6 million new shares at 111 pence each. This exceeds the target size of the initial issue.

At the start of June, Downing Renewables announced the fundraise, including a placing and 1-for-3 open offer to existing shareholders. It had aimed to raise £50 million.

Chair Hugh Little says: ‘We are delighted to have exceeded our target and raised £52.9 million, particularly given the challenging capital markets backdrop. These proceeds will be used to repay the revolving credit facility and to invest in an attractive pipeline of near-term opportunities, which are intended to further diversify our portfolio.’

Current stock price: 111.25p, down 0.2% on Thursday

12-month change: up 12%

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