New Downing Trust Announces Intention-To-Float

November 2, 2020

Today, it was announced that a new company, Downing Renewables & Infrastructure Trust PLC (DORE), is intending to launch an initial public offering (IPO) and to admit its shares to the premium segment of the Official List of the Financial Conduct Authority and to trading on London Stock Exchange PLC's Main Market (Admission). Downing LLP will be the investment manager to DORE.

DORE is seeking to raise up to £200 million via a placing, an offer for subscription and an intermediaries offer (together, the Issue) to invest in a diversified portfolio of renewable energy generating assets including wind, solar, hydro and geothermal along with other infrastructure assets in the UK, Ireland and Northern Europe.

DORE is expected to qualify for the London Stock Exchange’s Green Economy Mark at Admission, which recognises companies that derive 50% or more of their total annual revenues from products and services that contribute to the global green economy.

DORE expects to publish a prospectus in connection with the Issue in the coming weeks and to complete the Issue by mid-December.

Further information on the proposed launch of DORE can be found on DORE's website: when available.

Capital at risk and returns not guaranteed. Investments can fall as well as rise and investors may not get back the full amount invested. Please refer to the prospectus and key information document (KID) before investing; your attention is drawn to the risk factors contained therein.