HICL infrastructure raises 91.2 million

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HICL infrastructure raises 91.2 million

HICL Infrastructure Company Limited has raised gross proceeds of £91.2 million (US$142.3 million) through the issue for cash, subject to listing, of 60 million ordinary shares.

The issue price per new ordinary share was 152.0 pence. As permitted under the terms of the issue, the Directors determined to increase the size of the issue from its initial target size of £48.0 million in light of the company's current contracted commitments and anticipated investment opportunities.

Application has been made for the new ordinary shares to be admitted to the premium segment of the official list and to trading on the main market of the London Stock Exchange. 

Following the issue of the new ordinary shares, the total number of voting rights in the company will be 1,328,492,857. 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 in, or a change to their interest in the company under the FCA's Disclosure and Transparency Rules.

HICL Infrastructure has recently appointed Ian Russell as Chairman of the Board of Directors, replacing Graham Picken, and Frank Nelson as Senior Independent Director,replacing John Hallam.

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