HICL, the infrastructure investment firm, has been overwhelmed by demand for its shares and so has increased the size of its recently announced placing and open offer.
The group announced on Monday that it was seeking to raise £180m from an issue of convertible "C" shares at 100p a pop, with the possibility of increasing the size of the fund raising to £250m should the demand be there. It appears that the demand is there, because the board has increased the overall size of the issue to £250m.
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