Sequoia Economic Infrastructure Income Fund has announced the results of its recent placing, which took place under its placing programme. The company was targeting a placing of in excess of £40m and, under the terms of its placing programme, has the authority to issue up to a maximum of 120m shares. The company says that the placing was significantly oversubscribed and that investor demand has significantly exceeded the maximum amount of 120m new ordinary shares which can be issued. The Board says that, after consultation, it has determined to issue the maximum number of new ordinary shares available. The issue price is 105.0 pence per new Ordinary Share and the gross proceeds of the Placing will be approximately £126m. the board says that a scaling back exercise has been undertaken with respect to applications received. The company says that, following admission, the Company will have 595,412,613 Ordinary Shares in issue.
Sequoia Economic Infrastructure Income’s placing raises £126m : SEQI