US Solar Fund pushes back US$250mln London IPO

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.

Story by ProactiveInvestors