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Here’s Why Greencoat UK Wind Stock Price Gained This Week

Practice Stock Trading
Updated: 01 October 2020

Shares of Greencoat UK Wind (LON: UKW) are trading over 2% higher this week after the company successfully raised £400 million gross in fresh capital in an oversubscribed capital raise.

Greencoat plans to service the firm's £600 million of debt from the raise proceedings.

“Our simple, low risk model continues to deliver and we look forward to maintaining our track record of dependable returns to shareholders,” the company’s Chairman Shonaid Jemmett-Page said.

Greencoat, one of the major listed fund-investing renewables in the UK, will issue around 305.43 million of new shares, which will start to trade on the London Stock Exchange today.

Shares of Greencoat UK Wind trade higher after successfully raising £400 million October 2020

Greencoat share price is up around 2% on the week as it recovers from the printing of a 5-month low at 131p.