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International Public Partnerships Ltd on Friday said it plans to raise £250 million through an equity issue, with cash going towards paying part of a corporate debt facility and investing in its pipeline.
The London-based infrastructure investment company will raise the money through a placing, open offer and subscription. Shares will fetch 159.5 pence each. The fundraise could be boosted to £325 million in the event of increased demand.
IPP shares were 3.9% lower at 163.89p each in London on Friday morning.
The funds will go towards paying a portion of a corporate debt facility, which totals £156.2 million.
It will also ‘provide additional resources to pursue the company's investment pipeline’.
‘The company's high-quality, globally diversified pipeline of investment opportunities include social and transport infrastructure and regulated utilities together valued in excess of £178.2 million and selected by the company's investment adviser, Amber Fund Management Ltd, through Amber Infrastructure Group, over the next 12 months,’ IPP explained.
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