GCP Infrastructure Investments Limited has announced that the company is seeking to raise up to £22 million before costs through the issue of ordinary shares in its capital by way of tap issuance to selected investors through its corporate broker, Oriel Securities Limited.

GCP Infrastructure Investments Limited is the only UK listed infrastructure fund focused primarily on investments in UK infrastructure debt. The company is managed by Gravis Capital Partners LLP, a specialist investment advisory firm formed in May 2008.

The issue price is expected to be set at 107.75p and the Issue is expected to close by 12:30pm (London time) on 20 September 2013.  However the Issue price and the closing date may be altered at the absolute discretion of GCP Infrastructure Investments and Oriel.

GCP Infrastructure Investments said that the company has the authority to issue up to 26,483,400 million Shares on a non pre-emptive basis as and when the Board deems appropriate.

The board deemed it appropriate to issue shares based on the good pipeline of investment opportunities of GCP Infrastructure Fund Limited  (its investment vehicle) as well as the premium at which the company's shares trade relative to the Net Asset Value per share.

The company said that it will make a further announcement of the results of the issue when it has completed.

The company announced yesterday that it had invested £10.9 million in a subordinated bond to finance Salford housing PFI project.

Source: CGP Infrastructure Investments