Amber Infrastructure fund INPP announces share issue
International Public Partnerships has announced its intention to raise £250 million (US$316 million) via an equity issue.
The company will target £250m through the initial issue, but subject to demand this could be increased to a maximum of £330 million (US$417 million).
International Public Partnerships intends to raise the amount via a share placing, open offer and offer for subscription, all at an issue price of 150 pence per share.
The infrastructure investment firm noted the placing price represents a 6.8% premium to its estimated net asset value per share of 140.5p as at March 31.
The proceeds will be used in repayment of the cash-drawn portion of its existing debt facility, amounting to £255.6 million (US$323.4 million), with any remainder used for further investments.
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