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SAE Share Price Surges 26.9% Higher on a £170M Financing Deal

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Updated: 24 August 2020

Shares of Simec Atlantis Energy Ltd (LON: SAE) today surged 26.9% higher extending Friday’s rally, which was triggered by news of a £170 million financing deal signed by the company.

We covered the deal in great detail on Friday.

The sustainable energy firm signed the deal with a South Korean financial institution known as Hana Financial Investment where the loan shall be used to fund its Uskmouth project.

The final terms of the deal are yet to be agreed upon but investors have bid up the company’s shares since they expect the two company to finalise the deal and move forward with the project.

SAE share price

Tradingview chart of SAE share price 24082020

SAE shares rallied 26.9% higher today to trade at 33.0p having closed Friday’s session trading at 26.0p.