GCP Infrastructure Investments has announced a placing of new Ordinary Shares under its placing programme. The Placing will seek to raise gross proceeds of approximately £60 million in accordance with the prospectus. The company says that the placing is being effected to allow it to take advantage of a number of attractive investment opportunities in the near term. The Placing Price has been set at 123.50 pence per ordinary share, which represents a discount of 9 pence (6.8 per cent.) to the closing market price on 17 November 2016, of 132.50 pence. The company says that the Placing will be NAV accretive for existing shareholders. Under the terms of the Company’s Placing Programme the Board has the discretion to issue up to a maximum of c. 110.6 million new Ordinary Shares.
About GCP Infrastructure Investments
GCP Infrastructure is the only UK listed infrastructure fund focused primarily on investments in UK infrastructure debt. The Company’s existing, diversified investment portfolio is secured against long dated, public sector-backed cash flows and offers partial inflation protection. GCP Infrastructure Investments listed on the London Stock Exchange in July 2010. Its portfolio is managed by Gravis Capital Partners.
GCP Infrastructure Investments placing aims to raise £60m : GCP