Cordiant Digital raises £370m – Cordiant Digital Infrastructure Limited has successfully raised gross proceeds of £370m through its placing and offer for subscription of ordinary shares and issue of subscription shares at an issue price of 100p per ordinary share. Subscription shares will be issued to subscribers in the initial issue for nil value on the basis of one subscription share for every eight ordinary shares subscribed.
Application will be made for 370,000,000 ordinary shares and 46,249,982 subscription shares to be admitted to trading on the specialist fund segment of the London Stock Exchange’s main market. It is expected that initial admission will become effective and that dealings will commence at 8.00 a.m. on 16 February 2021.
Cordiant Digital Infrastructure aims to generate attractive total returns for shareholders over the longer term, comprising capital growth and a progressive dividend through investment in digital infrastructure assets, with a predominant focus on data centres, mobile telecommunications/broadcast towers and fibre-optic network assets.
Investec Bank plc acted as sole financial adviser, global coordinator and bookrunner.
The chairman of the company, Shonaid Jemmett-Page, had this to say: “The board is delighted at the broad and deep support from our new shareholders for the launch of the company. This is recognition, in our view, of the strength of our management team and the potential for the strategy to deliver both investment returns and positive impact across societies. We thank you for your support.”
[This is great news for the company. Hopefully, we’ll see a similar result from Digital 9 Infrastructure‘s IPO process, which should get going shortly.]
CORD : Cordiant Digital raises £370m