7th Mar 2016 15:38
LONDON (Alliance News) - John Laing Infrastructure Fund Ltd said on Monday it has raised GBP92.9 million through the placing of 81.2 million shares at a price of 114.5 pence each, with the funds going towards the repaying the debt currently drawn on its revolving credit facility and the financing of future acquisitions.
The FTSE 250 infrastructure investor said the shares were placed by investment bank JP Morgan Cazenove. It said the placing shares being issued represented around 9.9% of its issued share capital prior to the placing.
John Laing Infrastructure Fund, which first announced the placing on February 25, said the issue price represented a 0.6% discount to its share price immediately prior to the announcement of the placing.
As part of the issue, Newton Investment Management Ltd purchased 9.7 million shares on behalf of its clients, while Schroders PLC purchased 19.8 million shares on behalf of its clients.
"We are delighted to have completed another successful placing. This brings the total amount of additional funds that JLIF has raised since launch to over GBP900.0 million," said John Laing Infrastructure Chairman Paul Lester.
Shares in John Laing Infrastructure were up 1.0% at 115.50p on Monday.
By Hannah Boland; [email protected]; @Hannaheboland
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