Blackfinch Renewable European Income Trust targets £300m IPO

£500m pipeline of assets identified

Blackfinch Renewable European Income Trust (BRET) has announced its intention to launch an IPO to raise up to £300m via a placing, offer for subscription and intermediaries offer, and to seek admission to trade on the London Stock Exchange.

The new investment trust will invest in a diversified portfolio of mixed renewable energy infrastructure assets in Europe, with Blackfinch Group, which has total assets under management of £500m, appointed the company's investment manager. Once fully invested, the trust is targeting a dividend yield, based on the initial issue price, of 1% to 3% for the first financial year to 30 June 2022, 5% to 5.5% for the second financial year to 30 June 2023 and, thereafter, 6% per annum, increasing progressively. How to find the right IPOs in a booming market It will target a net total shareh...