International Public Partnerships Limited (INPP) has plans to raise approximately £18 million (US$27.6 million) through the issue of up to 13.4 million ordinary shares.

The issue will be made to qualifying investors through the company's corporate broker, Numis Securities Limited.

The net proceeds of the issue will be used to reduce the drawn element of the company's debt facility, which, after the recent investments (Batch 4 - Priority School Building Programme (Midlands), Batch 1 - Priority School Building Programme (Hertfordshire, Luton and Reading) and Thames Tideway Tunnel project) is drawn at approximately £82 million

In addition, the company has a strong pipeline of short and medium term opportunities which includes:

• additional commitments to the final announced 'batch' of the aggregator funding programme, for which the company is preferred bidder;
• additional investment within the UK offshore transmission sector, where the company currently has preferred bidder status on its sixth project, Westermost Rough;
• discussions on two further near term investments in the United States and Australia which have reached an advanced stage; and
• a number of other projects in the UK, Europe, Australia and the United States that the company or its investment adviser are bidding on or developing.

The bookbuild to raise the money is expected to close on 7 September 2015 but may be closed earlier or later at the discretion of the company and Numis. Numis may, in agreement with the company, accept bids that are received after the bookbuild has closed.