VH Global Sustainable Energy Opportunities preparing 400m pound IPO
By Alexander Bueso
Date: Thursday 12 Nov 2020
(Sharecast News) - VH Global Sustainable Energy Opportunities, a closed-ended investment company focused on sustainable energy infrastructure, is set to launch an initial public offering.
The company is seeking to raise £400m via the sale of ordinary shares at 100p each on the London Stock Exchange's main market.
Its geographic focus will be on countries belonging to the European Union, the Organisation for Economic Cooperation and Development, and OECD key partner and accession countries.
Income distributions will be the main source of returns, with an expected dividend in its first financial period following admission of 1.0p per share and a target annual dividend thereafter of 5.0p per share.
Net of costs and expenses, once the funds have been fully invested, the firm will target a net asset value total return of 10% per year.
Numis is acting as sponsor and sole bookrunner for the IPO, with the outfit expected to qualify for the LSE's Green Economy Mark at admission.
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