Company completes brokered offering at discount through Arden Parners
By Devika Patel
Knoxville, Tenn., Sept. 29 - KSK Power Ventur plc said it sold 12,254,902 ordinary shares in a private placement. Arden Partners plc was the broker.
The company sold the shares at 510p each, raising £62.5 million. The per-share price is a 6.85% discount to the Sept. 28 closing share price of 547.5p and a 4.2% discount of to the closing middle market price of the shares on Sept. 28.
Proceeds will enable the company to pursue additional growth opportunities, pursue new mineral development opportunities, fuel supplies and invest in renewable energy in India, such as wind and solar power,
The manager of private sector power projects is based in Isle of Man, England.
| Issuer: | KSK Power Ventur plc
|
| Issue: | Ordinary shares
|
| Amount: | £62.5 million
|
| Shares: | 12,254,902
|
| Price: | 510p
|
| Warrants: | No
|
| Broker: | Arden Partners plc
|
| Settlement date: | Sept. 29
|
| Stock symbol: | London: KSK
|
| Stock price: | 590p at open Sept. 29
|
| Market capitalization: | £715.11 million
|
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