27th Aug 2015 07:04
LONDON (Alliance News) - International Public Partnership Ltd on Thursday said it is considering its fundraising options due to upcoming opportunities to make new investments.
International Public Partnerships, which is known for investing in public infrastructure projects, said its net asset value was GBP1.08 billion at the end of June, increasing by GBP15.6 million over the course of the first six months of 2015.
Its NAV per share increased to 128.6 pence from 127.0p in the same period, and the company lifted the dividend payment or the period to 3.225p from 3.15p. Its minimum target dividend for 2015 is 6.45 pence per share and for 2016 it is 6.65p.
Pretax profit increased to GBP38.4 million in the six months to June 30, compared with GBP35.9 million in the corresponding half the prior year.
In March, the company gave its nod of approval to the Hunt Companies, a privately owned US group, becoming a 50% shareholders in Amber Fund Management Ltd, its investment adviser.
One idea behind the deal is to give the company and Amber the potential to expand into the US, potentially one of the developed world's largest growth markets for infrastructure investment.
"Members of the Amber team have already begun working with their Hunt colleagues on potential investment opportunities in the US and we are very encouraged that good progress has already been made on the company's behalf to access investments in this market," Chairman Rupert Dorey said in a statement.
"As part of this transaction, the company has been granted a right of 'first look', on similar terms to the right it already enjoys with Amber, to such of Hunt's activities in public infrastructure projects in the US which meet the company's investment criteria," Dorey added.
By Samuel Agini; [email protected]; @samuelagini
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