HICL Infrastructure launches retail offer and placing
Updated : 08:06
Investment group HICL Infrastructure announced a retail offer via PrimaryBid at an issue price of 169.0p per new ordinary share on Friday, a discount of 3.1% to the stock's closing price on 7 July.
HICL stated investors could participate in the retail offer by applying through the PrimaryBid mobile app, with applications open immediately and expected to close at 1600 BST on 14 July.
Net proceeds of the retail offer will be used to restore HICL's £400.0m revolving credit facility capacity and provide additional resources to support its near-term pipeline.
Separately, HICL said it would conduct a placing of new ordinary shares at the issue price of 169.0p and highlighted that current 2023 inflation forecasts supported an uplift of 3.0p to 3.6p to its net asset value on 31 March, in line with NAV sensitivity provided in the group 2022 results.
As of 0805 BST, HICL shares were down 1.57% at 171.67p.
Reporting by Iain Gilbert at Sharecast.com