Shares fall in Applegreen after €47m share placing

Shares fell more than 2% in Applegreen as the fuel and forecourt operator raised almost €47m in a placing of more than eight million shares — around 10% of the firm’s issued prior share capital prior to the placing.

Applegreen said the capital raised will be used to further acquisitions and developments in its three key markets of Ireland, the UK and the US.

Chief executive Bob Etchingham said Applegreen was “very pleased with the very strong support” it received from new and existing shareholders.