EV charging firm Fastned up after places shares to Schroders Capital

Fastned BV

17/10/2022 09:35

** Shares in Fastned  FASTN.AS  jump about 10% after the
Dutch EV charging infrastructure company placed over 2 mln new
shares to Schroders Capital for 75 mln euros 
    ** Schroders Capital will get a 10.61% stake in Fastned
after acquiring 2,032,520 new depositary receipts at 36.90 euros
    ** Fastned will use proceeds to expand its European network
of charging stations
    ** "Another key milestone," says ING, adding that the
placement fully covers the company's 50-75 million euro required
funding to reach its 2024 target of 400 stations
    ** ING adds the transaction also provides a significant
higher price point "at a moment when funding markets are less
benign"
    ** Fastned's stock, which has dropped around 32% YTD, is on
track for its best day since August 11
 (Reporting by Olivier Sorgho)
 ((olivier.sorgho@thomsonreuters.com))