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US Solar Fund pushes back US$250mln London IPO

“A small number of additional investors require further time to complete their due diligence. Accordingly, the board has decided on a short extension of the timetable in respect of the offer”

solar panel in desert
It’s been tough going for London’s IPO market of late

US Solar Fund PLC has been forced to delay its US$250mln London IPO.

The investment company, which is targeting the “rapidly growing” US solar energy market, had been due to join the London Stock Exchange later this month.

READ: US Solar Fund set for US$250mln London IPO next month

But it said today, it was pushing back the flotation to allow a “small number of additional investors” more time to carry out their due diligence.

“The board is very pleased with the strong response to the offer received from a broad range of investors, which includes a number of large, blue-chip institutions, particularly in light of current political and economic uncertainty,” read a company statement.

“A small number of additional investors require further time to complete their due diligence. Accordingly, the board has decided on a short extension of the timetable in respect of the offer.”

US Solar said it will provide more details and publish a revised timetable next week.

Quick facts: US Solar Fund PLC

Price: 0.9725 USD

LSE:USF
Market: LSE
Market Cap: $243.13 m
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