London - The UK government intends to place at least 40 million shares in Greencoat UK Wind, a fund that invests in wind farms, via an accelerated book building to be launched immediately, one of the book runners on the deal said.
Barclays Bank said on Thursday the shares being sold by the Department for Business, Innovation and Skills would be priced between 103 pence and 105 pence. Greencoat shares closed at 106.25 pence on Wednesday.
The placing is expected to close no later than noon on February 6, the bank added.
Barclays and RBC Capital Markets are joint book runners on the deal, while Winterflood Securities is also working on the placing.