25th Apr 2018 09:28
LONDON (Alliance News) - Sequoia Economic Infrastructure Income Fund Ltd on Wednesday said the price for its recently announced share placing will be 104.00 pence per share.
Shares were trading at 108.15p on Wednesday, down 1.2%.
The price, Sequoia said, is a 4.2% premium to its net asset value per share of 99.82p, but a 5% discount to its closing share price on Tuesday of 109.50p.
The company announced the placing on Tuesday last week, saying it would place up to 72.8 million shares for around GBP75.5 million, based on its share price at the time. Now the pricing has been announced, this suggests it will raise GBP75.7 million.
Proceeds, Sequoia said last week, will be used to repay debts.
Related Shares:
Sequoia Economic Infrastructure Fund