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.

"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

Recommended

Why it pays to face up to your investment mistakes
Investment strategy

Why it pays to face up to your investment mistakes

Buying stocks can be a complicated business. But selling stocks can be tricky, too – even if you sell for the right reasons. Max King explains how to …
17 Sep 2021
Share tips of the week – 17 September
Share tips

Share tips of the week – 17 September

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
17 Sep 2021
Royal Mail will deliver for investors – here's how to play it
Trading

Royal Mail will deliver for investors – here's how to play it

Royal Mail Group has found its feet in the past 18 months and looks cheap. Matthew Partridge looks at how to trade the shares.
14 Sep 2021
The times may be changing, but don’t change how you invest
Small cap stocks

The times may be changing, but don’t change how you invest

We are living in strange times. But the basics of investing remain the same: buy fairly-priced stocks that can provide an income. And there are few be…
13 Sep 2021

Most Popular

The times may be changing, but don’t change how you invest
Small cap stocks

The times may be changing, but don’t change how you invest

We are living in strange times. But the basics of investing remain the same: buy fairly-priced stocks that can provide an income. And there are few be…
13 Sep 2021
Two shipping funds to buy for steady income
Investment trusts

Two shipping funds to buy for steady income

Returns from owning ships are volatile, but these two investment trusts are trying to make the sector less risky.
7 Sep 2021
Should investors be worried about stagflation?
US Economy

Should investors be worried about stagflation?

The latest US employment data has raised the ugly spectre of “stagflation” – weak growth and high inflation. John Stepek looks at what’s going on and …
6 Sep 2021