Amber Infrastructure’s listed fund today revealed details of plans to raise £250m through a share placing.
Amber’s International Public Partnerships (INPP) said the capital raise will be used to support the development of its current portfolio of infrastructure assets.
Chairman Rupert Dorey said:
We continue to focus on delivering predictable, long-term and inflation-linked returns to our shareholders and believe that we are well placed to continue to grow our dividends over time as well as grow the capital value of the company.
The company will target £250m through the initial issue, but subject to demand this could be increased to a maximum of £330m.
The shares are being offered at 150p each, a 5.5 per cent discount on its 10 April closing price of 158.7p.
INPP will announce the results of the initial issue on 9 May and the new shares will be listed on 11 May.
INPP, which was listed by Amber in 2006, is invested in the Thames Tideway Tunnel and was part of an international consortium which bought a stake in the National Grid gas pipes network this year.