29th Nov 2019 13:39
(Alliance News) - HICL Infrastructure PLC on Friday said it has completed its previously announced GBP100 million fundraise through the issue of 62.5 million shares at 160 pence each.
HICL shares were up 0.7% at 164.99 pence each in London on Friday afternoon.
The share issue was materially over-subscribed and, as a result, a scaleback has been applied in respect of applications received, the infrastructure investment company said.
Chair Ian Russell said: "The proceeds of the issue will be deployed to repay the net funding requirement and facilitate the Company's pursuit of attractive new investment opportunities."
Following the issue of the new shares, the FTSE 250-listed company will have 1.85 billion shares in issue.
By Tapan Panchal; [email protected]
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