12th Jan 2017 14:51
LONDON (Alliance News) - HICL Infrastructure Co Ltd said Thursday that it is planning a placing, open offer and subscription offer in the first quarter of 2017.
The FTSE 250-listed infrastructure investment company last Thursday bought stakes in two Dutch public private partnership projects from construction and engineering company Ballast Nedam for EUR21.3 million.
At that time it had said it had a funding surplus of around GBP6 million, but also commitments of around GBP200 million in total in relation to conditional acquisitions that are expected to complete in the first half of 2017.
HICL said Thursday that its pipeline of potential new acquisitions remains healthy, and it recognises that it has been "some time" since shareholders and other investors have had a chance to take part in a fund-raising by the company on a "more formal footing", as it has been raising funds through tap issues.
It will provide further details on the timing and size of the issue in "due course", it said, but guided that it expects to publish a prospectus in February and for new shares to be issued and begin trading by the end of March.
Shares in HICL were down 0.4% at 162.08 pence Thursday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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