Recently, Pineapple Power Corporation PLC, a UK organisation established as a special purpose acquisition company to seek and acquire businesses in the clean energy sector, announced that its ordinary shares of £0.01 each have been admitted to the Standard Segment of the Official List and to trading on the Main Market of the London Stock Exchange, following a successful placing of 43,867,011 ordinary shares at £0.03 pence per share raising gross proceeds of £1,316,010.
On admission, the Company will be issued 57,367,211 ordinary shares. Meanwhile, Peterhouse Capital Limited and Axis Capital Markets Limited acted as Joint Placing Agents and Joint Brokers respectively.
The purpose of the flotation is to boost the public profile and generate new funds for the Company’s proposed acquisition strategy in the renewable or clean energy technology sector and to finance, develop and promote environmentally sound power generation and storage projects internationally.
Commenting on Pineapple Power’s flotation, Claudio Morandi, non-executive Director, said:
“Pineapple’s admission to the London Stock Exchange’s Main Market is a significant achievement and a very welcome development which puts the Company in a strong position to execute our acquisition and growth strategy.”
Pineapple Power is of the view that due to the highly visible global concerns regarding environmental damage and climate change as a result of fossil-fuelled power generation, there exists considerable commercial opportunities in the renewable and clean energy sector, which will play an increasingly significant role in meeting future energy needs while reducing further environmental damage.
Clear Capital Markets assisted the company’s corporate brokers in this IPO. If you are interested in listing you company via an IPO or taking part in future IPO’s, please contact us
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