HICL Infrastructure Company raises £260m to fund further investments
Investor HICL Infrastructure Company has raised £260m in an equity share placing in order to fund further investments and repay loans.
Equity Investment Instruments
12,157.83
09:55 03/06/25
FTSE 250
20,984.64
09:55 03/06/25
FTSE 350
4,800.82
09:55 03/06/25
FTSE All-Share
4,750.99
09:55 03/06/25
HICL Infrastructure
120.20p
09:54 03/06/25
From an oversubscribed share placing, open offer, subscription and intermediaries offer the FTSE 250 company raised £260m, which was the maximum amount allowed to be raised under the issue, exceeding the £205m target size.
About 163.52m shares were issued at a price of 159p each, comprising of 66.31m shares for the open offer, 8.9m for the subscription and the intermediaries offer, and 88.3m for the placing.
The new shares are expected to be admitted to trade on the London Stock Exchange on Friday.
Proceeds of the funds raised will be used to repay outstanding borrowings under the company's loan facility and to secure further investment opportunities.
Chairman Ian Russell said that the strong response from investors was “encouraging” and that the company has an “attractive pipeline of investment opportunities” that it is currently working on, “some of which may materialise as new investments in due course”.