Publications

Fundraising - SEPTEMBER 14, 2021

To read this full article you need to be subscribed to Newsline.

Sign in Sign up for a FREE subscription

SMS seeks $242m in share placing

by Kali Persall

Smart Metering Systems (SMS) is seeking to raise £175 million ($242.1 million) in a new share placing, according to The Wall Street Journal.

The proposed raise comes as SMS’ pretax profit fell to £5 million ($6.9 million) from £194.5 million ($258 million) the year before, and revenue fell to £51.7 million ($71.5 million) from £54.2 million ($75 million). To compare, the previous year, the company had reported £186.3 million ($257 million) of income.

The proposed raise will be used to part-fund opportunities, from both within its established properties and developing carbon-reduction products.

SMS provides a fully managed metering and data service to the industrial, commercial and domestic markets.

Forgot your username or password?

We use cookies and other tracking technologies to personalize your user experience on our site and perform site analytics. By clicking on “I accept”, you consent to our Privacy Policy.