Calisen fixes offer price

Smart meters firm Calisen (LON: CLSN) has set its offer price at 240p a share. That values the company at £1.32bn, which is slightly lower than the £1.5bn that had been suggested.

Calisen is raising £300m before expenses and existing shareholders are selling shares to generate £28.8m. The expenses of the offer are £25m.

The cash will be used to fund existing and new smart meter roll-outs in the UK. Calisen will reapy £227m of equity bridge loans.

Calisen intends to pay a nominal dividen...

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Andrew Hore is the publisher of AIM Journal, which is an online monthly publication covering the Alternative Investment Market.