11th Oct 2021 11:23
Pantheon Infrastructure PLC - Investment trust managed by Pantheon Ventures focused on infrastructure assets - Targets GBP300 million raise through the listing of shares at 100 pence each as the company looks to go public on the London Main Market. Subscription shares will be issued to IPO investors subscribing for ordinary shares on the basis of one subscription share for every five ordinary shares subscribed. Admission is expected in mid-November.
The trust is targeting a NAV total return per share of between 8% and 10% per year following the float. Also aims for "progressive dividend" from investments, with an initial dividend of at least 2p per share in 2022 targeted, rising to 4p in 2023. Pantheon has a pipeline of co-investment opportunities of over GBP1 billion, it notes.
"Pantheon has a proven track record of delivering strong returns by applying a disciplined investment process across a globally diversified portfolio and we are confident that their approach, which focuses on co-investing, thus minimising fees while maximising the number of investment opportunities it can access, offers a compelling and differentiated opportunity for investors," comments Chair Vagn Sorensen.
Investec PLC and Ltd is acting as sole sponsor, adviser and bookrunner for the float.
By Will Paige; [email protected]
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