International Public Partnerships Limited (INPP) has raised a total of £180 million (US$273.5 million) through the issue of new shares via a Placing, Open Offer and Offer for Subscription.
According to a disclosure to the stock exchange, the issue was very significantly over subscribed.
A total of 137,142,857 shares will be issued at a price of 131.25 pence per share, of which 39,979,495 shares will be issued pursuant to the open offer, 1,471,821 shares will be issued pursuant to the offer for subscription and 95,691,541 shares will be issued under the placing.
Commenting on the result of the placing, open offer and offer for subscription, Rupert Dorey, Chairman of INPP, said:
"The demand for new shares in the company has been very strong and significantly exceeded our target. We are very grateful for the support from both existing and new shareholders. We believe the success of the issue underlines the investment attractions of the infrastructure sector generally and of the assets within our portfolio in particular."
Applications will be made for the 137,142,857 new shares to be admitted to the premium segment of the official list of the UK listing authority and to trading on the london stock exchange plc's main market for listed securities. The company's issued share capital now comprises 990,634,037 ordinary shares.