9th Dec 2015 14:31
LONDON (Alliance News) - HICL Infrastructure Company Ltd on Wednesday said it has raised GBP51.0 million by issuing shares, higher than the original fundraising target of GBP30.0 million.
HICL said it raised more money than was targeted "in light of [its] current investment pipeline".
The company issued 34.0 million shares at 150.0 pence each, and still has the authority to issue a further 32.7 million without having to seek approval from shareholders.
"It is the intention of the board to utilise that authority as and when the directors deem appropriate, having regard for additional investments which it is anticipated will be made in due course, as well as the company's net funding requirement at the time," HICL said in a statement.
Shares in HICL were down 0.2% at 150.10p on Wednesday afternoon.
By Samuel Agini; [email protected]; @samuelagini
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