Pantheon Infrastructure IPO massively oversubscribed – Pantheon Infrastructure Plc (PINT) has successfully raised gross proceeds of £400m, through its placing, offer for subscription and intermediaries offer of ordinary shares at an issue price of 100p per share. Subscription shares will be issued to IPO investors on the basis of one subscription share for every five ordinary shares.
The company says that it received applications substantially exceeding both the target of £300m and the £400m maximum size of the Issue. Accordingly, a scaling-back exercise has been undertaken.
PINT will target attractive risk-adjusted total returns comprising capital growth and a progressive dividend through making equity and equity-related investments in private infrastructure assets alongside other leading private asset investment managers and institutional investors. The net proceeds of the Issue will be invested in accordance with the company’s investment policy.
Trading in the 400m ordinary shares and 80m subscription shares is expected to start on 16 November.
Congratulations are due to the team at Investec Bank who was sole sponsor, financial adviser, and bookrunner to the company.
PINT : Pantheon Infrastructure IPO massively oversubscribed