8th Apr 2022 09:34
(Alliance News) - International Public Partnerships Ltd on Friday said it plans to raise GBP250 million through an equity issue, with cash going towards paying part of a corporate debt facility and investing in its pipeline.
The London-based infrastructure investment company will raise the money through a placing, open offer and subscription. Shares will fetch 159.5 pence each. The fundraise could be boosted to GBP325 million in the event of increased demand.
IPP shares were 3.9% lower at 163.89p each in London on Friday morning.
The funds will go towards paying a portion of a corporate debt facility, which totals GBP156.2 million.
It will also "provide additional resources to pursue the company's investment pipeline".
"The company's high-quality, globally diversified pipeline of investment opportunities include social and transport infrastructure and regulated utilities together valued in excess of GBP178.2 million and selected by the company's investment adviser, Amber Fund Management Ltd, through Amber Infrastructure Group, over the next 12 months," IPP explained.
By Eric Cunha; [email protected]
Copyright 2022 Alliance News Limited. All Rights Reserved.
Related Shares:
International Public Partnerships