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Atrato to become the first all-female company to list on the LSE

Atrato to become the first all-female company to list on the LSE
Atrato to become the first all-female company to list on the LSE

Atrato Onsite Energy, an investment venture targeting renewable energy assets, due to float itself through a public listing next month, will reportedly be the first firm with an all-female board to be listed on the London Stock Exchange.

With an aim to raise £150 million through its Initial Public Offering (IPO), the company is led by three females, including Juliet Davenport, the current chairperson of Atrato and founder of Good Energy. Atrato further wants to exceed voluntary goals for increasing the number of women in senior positions across most FTSE businesses.

According to reports, the news about Atrato's listing on London Stock Exchange is yet another success for women's rights activists who want to see more women in the top tiers of British industry.

Apparently, in February, the government-sponsored Hampton-Alexander review announced that it had met its goal of having 33 percent of FTSE 100 as well as FTSE 250 board positions occupied by females by the end of 2020.

However, 21% of FTSE 100 boards and 32% of FTSE 250 boards have failed to hit that target, while executive management teams, which include CEOs, directors, as well as the ones who report to them were also falling short of the 33 percent goal, at 29.4 percent.

Juliet Davenport, Atrato chair, Marlene Wood, head of the audit committee, and Faye Goss, non-executive director oversee the company’s affairs. The enterprise would primarily focus on investing in solar photovoltaic panels that are deployed on the roofs of factories, warehouses, as well as other industrial structures.

Davenport stated that the United Kingdom's explicit net-zero emissions goal for 2050, as well as the accompanying potential demand for clean energy implies that further low-carbon energy generation, from sources like rooftop solar is on the rise. She further added that Atrato will play a pivotal role in the development of additional green power capacities, providing businesses with a reliable source of clean energy at a low fixed costs.

According to the company, the investors can expect yearly payouts of 5p per share for the solar panel investment, as part of an overall return on investment of 8% -10%.

By the end of November, Atrato expects to make its initial public offering (IPO) under the ticker ROOF.

Source credit: https://www.theguardian.com/business/2021/oct/25/green-investment-trust-atrato-onsite-energy

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Sunil Jha

Sunil Jha has been a part of the content industry for close to two years. Having previously worked as a voice over artist and sportswriter, he now focuses on writing articles for newsorigins.com, across a slew of topics, ranging from technology to trade and finance. With a business-oriented educational background, Sunil brings forth the expertise of deep-dive research and a strategic approach in his write ups.