Strong demand for new John Laing Infrastructure shares
The John Laing Infrastructure Fund (JLIF) said it had successful raised over 60 million pounds in a share issue that was significantly oversubscribed.
The John Laing Infrastructure Fund (JLIF) said it had successful raised over 60 million pounds in a share issue that was significantly oversubscribed.
The fundraising effort, which included an open offer, a subscription offer and a placing, means almost 57m new shares will be issued pulling in a total of £60.4m for the company.
The proceeds will be used to acquire two new projects and an additional stake in Forth Valely Royal Hospital from John Laing Group.
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
Chairman Paul Lester said the demand for new shares came despite a backdrop of ongoing uncertainty in capital markets.
"Investors remain attracted to our proven, low-risk model offering a high, predictable dividend yields," he said.
"We will be using the proceeds to acquire a new portfolio of three quality, operational, public/private partnership assets, which meet JLIF's stated investment strategy."
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.
-
Tycoon Truong My Lan on death row over world’s biggest bank fraud
Property tycoon Truong My Lan has been found guilty of a corruption scandal that dwarfs Malaysia’s 1MDB fraud and Sam Bankman-Fried’s crypto scam
By Jane Lewis Published
-
Why undersea cables are under threat – and how to protect them
Undersea cables power the internet and are vital to modern economies. They are now vulnerable
By Simon Wilson Published