National Grid Transco (NGG) has released an update.
National Grid plc has announced a Rights Issue to raise approximately £7 billion, aiming to fund a substantial £60 billion investment into energy network infrastructure over the next five years. This strategic move is designed to enhance the company’s electricity transmission and distribution capabilities, in alignment with the growing demand for decarbonization and the transition to renewable energy sources. The Rights Issue will offer 1,085,448,980 New Shares at 645 pence each, allowing National Grid to increase its capital investment and provide financial flexibility for its future growth.
For further insights into NGG stock, check out TipRanks’ Stock Analysis page.
