Sequoia economic infrastructure income fund raises 175 million
Sequoia Economic Infrastructure Income Fund has raised gross proceeds of approximately £175 million, in excess of the target issue amount of £150 million (US$249 million), through the Open Offer, Placing and Offer for Subscription of C Shares.
A total of 175,171,834 C Shares will be issued of which 45,297,256 C Shares will be issued pursuant to the Open Offer and 129,874,578 C Shares will be issued pursuant to the Placing and the Offer for Subscription.
Application has been made for the C Shares to be admitted to the Official List and to trading on the London Stock Exchange's standard segment of the Main Market. It is expected that admission will become effective and dealings in the C Shares will commence on 10 June 2016.
Following Admission, the company will have 302,674,216 Ordinary Shares and 175,171,834 C Shares in issue. The C Shares do not carry any right to attend or vote at any meeting of the Company, save for limited circumstances where the consent of the holders of the C Shares as a class by special resolution shall be required. Therefore, the total number of voting rights of the Company will be 302,674,216 and this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest, or a change to their interest in, the Company.
Stifel Nicolaus Europe Limited acted as Sponsor and Sole Bookrunner.
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