Hungarian energy service company E-Star Alternative said late Wednesday it successfully closed a HUF 2.4 billion capital raise through private placement.
As a result of the transaction, 10% of E-Star’s shares were transferred to international investors. Utilico Emerging Markets Limited further raised its stake in E-Star and Impax Asset Management acquired more than 1% of the company, E-Star said.
Impax Asset Management is a unit of Impax Asset Management Group, a leading investment manager dedicated to the environmental sector, with a focus on alternative energy, water and waste, E-Star said.
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