US Solar Fund revises timetable for USD-250m London IPO

London Stock Exchange. Author: jam_90s. License: Creative Commons, Attribution 2.0 Generic

March 18 (Renewables Now) - US Solar Fund Plc (USF), the newly-formed solar power investor that is preparing for a USD-250-million (EUR 220m) listing in London, has decided to make a "short extension" of the timetable for the offering.

The fund announced this on Friday, saying that it will publish the revised timetable this week. It explained its decision with the fact that a small number of additional investors need more time to complete their due diligence.

USF further noted that the offer has received strong response from a broad range of investors, including several large, blue-chip institutions. The board is “very pleased” with this outcome given the current political and economic uncertainty, the statement says.

As previously announced, USF plans to commit to, or invest in, some of the US solar assets identified by its manager New Energy Solar Manager (NESM). The particular pipeline of opportunities has a total value of more than USD 4.8 billion.

(USD 1.0 = EUR 0.880)

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