HICL Infrastructure reports recent placing is 'significantly' oversubscribed
HICL Infrastructure Company, a FTSE-250 listed company, on Friday reported that its recent placing, open offer and offer for subscription of shares was 'significantly' oversubscribed and as such it has partially scaled back the applications received.
HICL Infrastructure Company, a FTSE-250 listed company, on Friday reported that its recent placing, open offer and offer for subscription of shares was 'significantly' oversubscribed and as such it has partially scaled back the applications received.
The group will issue a total of 140m shares to be issued at 119.50p per share, of which 61.97m shares were issued under the open offer, 9.56m issued pursuant to the offer for subscription, and 68.5m under the placing.
Graham Picken, the Chairman of HICL, said: "We are delighted with the success of the offer, which was significantly oversubscribed. In light of the current pipeline of advanced-stage acquisition opportunities, the board is pleased to confirm the size of the issue at £167.3m.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"We regard this successful capital raising as an endorsement of the company's strategy and track record of successful delivery. The strong demand also reflects the growing importance of infrastructure as an asset class".
The share price rose 0.16% to 124.40p by 13:45.
NR
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
Twenty 'finfluencers' questioned under caution by the UK regulator
The individuals were interviewed voluntarily using the Financial Conduct Authority’s criminal powers
By Chris Newlands Published
-
Number of ISA millionaires triples in three years
The number of people with £1 million in their ISAs has tripled in three years to reach 3,180. But could next week’s Budget put an end to future ISA millionaires?
By Ruth Emery Published