Three things you need to know in the financial markets this morning from investment writer, Tony Cross.
Jet2
The leisure airline and tour operator Jet2 LON:JET2 has this morning announced it successfully completed a fundraise of £422m last night, issuing new equity at close on a 10% discount. The offer was significantly oversubscribed and shows continued confidence in this sector, which given the narrative emerging from politicians could be in for another rough summer. The move expands the number of shares in issue by 20%.
Renewables Infrastructure Group
Unlike many in the green energy sector, shares in the Renewables Infrastructure Group [LON:TRIG] failed to find a bounce over the Christmas period. Gains were however seen – albeit on a temporary basis – at the start of the month so today’s news, that it has acquired a wind farm project on a ready to build basis in Sweden. This is a sizable investment and will account for 3% of the company’s overall portfolio once fully committed.
Remote Monitored Systems
Remote Monitored Systems [LON:RMS] is hosting a general meeting today, although there’s still no sign of progress regarding the completion of commissioning its manufacturing line. This will produce anti-viral masks but delivery has been held up after engineers involved in the project tested positive for COVID. With the risk of pushback from investors and silence when it comes to that production issue, some volatility may be seen during the day.
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