10th Oct 2018 08:15
LONDON (Alliance News) - Sequoia Economic Infrastructure Income Fund Ltd said Wednesday it has increased the size of a previously announced share offer to raise GBP253 million.
The company will issue 238.7 million news shares at 106.0 pence each. Of these, 125.6 million will be sold in a placing and subscription, while 113.1 million go toward an open offer.
The company expects admission of the new shares to trading to take place on October 12 after which it will have 1.1 billion shares in issue.
Last week, Sequoia Economic Infrastructure said it would raise GBP200 million via a share issue to fund attractive investment opportunities in the economic infrastructure debt market.
The investment trust planned to issue up to 188.7 million new ordinary shares at a price of 106.0 pence per share; however, due to the initial offer being "very significantly oversubscribed", it decided to increase it by 50 million shares.
Shares in Sequoia Economic Infrastructure were trading up 2.8% at 109.00p each on Wednesday morning in London.
Related Shares:
Sequoia Economic Infrastructure Fund