20th Sep 2019 10:06
(Alliance News) - Sequoia Economic Infrastructure Income Fund Ltd on Friday said its GBP138.8 million placing was "significantly" oversubscribed.
The stock was trading 0.7% lower on Friday in London at 114.20 pence a share, giving Sequoia a market capitalisation of GBP1.44 billion.
On September 2, the company said it was seeking to issue up to 125 million shares at a price of 111.0p each. Stifel Nicolaus Europe Ltd acted as sole bookrunner and financial adviser to the company.
"We are very appreciative of the significant support shown by both existing and new shareholders, which will allow the Company to repay part of its debt facilities and the Investment Adviser to re-draw on these facilities as the company deploys into its pipeline over the remainder of this year," said Chair Robert Jennings.
Following the admission, Sequoia will have 1.39 billion shares overall.
Related Shares:
Sequoia Economic Infrastructure Fund