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 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.

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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."