News
- Home
- Investment Company News
- HICL intends to undertake a fundraising during the first quarter of 2017
HICL Infrastructure has announced that it intends to proceed with a placing, open offer and offer for subscription of ordinary shares during the first quarter of 2017. The company says that it currently has a funding surplus of around £6m, but also has commitments of approximately £200m in aggregate in respect of conditional acquisitions which are expected to complete during the first half of 2017. It says that its pipeline of potential new acquisitions remains healthy and HICL’s investment adviser is confident that further attractive investment opportunities will arise in the coming months.
The Board says that it is its intention to publish a prospectus in relation to the issue and to convene an extraordinary general meeting for the purpose of seeking shareholder approval. As with previous formal equity fundraisings by HICL, the board says that the inclusion of an open offer will ensure that a portion of the issue is reserved, in the first instance, exclusively for existing shareholders.
HICL says that further details as to the precise timing and quantum of the Issue will be announced in due course but, for indicative purposes, HICL envisages that a prospectus will be published in February and that (subject to shareholder approval) the new Ordinary Shares will be issued and commence trading by the end of March.
HICL intends to undertake a fundraising during the first quarter of 2017 : HICL