INPP confirms 125 million fundraising
The Board of Directors of International Public Partnerships Limited (INPP) has announced that the placing has closed, raising £125 million before costs and expenses through the issue of 83,612,040 ordinary shares of 0.01p in the capital of the company.
The placing was oversubscribed with demand from existing and new investors.
The New Ordinary Shares will be issued at 149.5pence per share, which represents a discount of 1.97% to the closing price prior to the fund raising announcement on 5 July 2016.
Chairman of International Public Partnerships, Rupert Dorey said:
"The oversubscription of our latest fundraising demonstrates the continued attractiveness of the company's investment case. Our enhanced corporate debt facility has again allowed us to be agile and competitive in originating and acquiring infrastructure assets core to our portfolio. Today's close is another sign of confidence in the company's pipeline and we look forward to deploying the net proceeds to help deliver predictable, low-risk and long-term returns to our shareholders."
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