Close-ended investment company Alinda Capital Infrastructure Investments has announced its intention to float on the London Stock Exchange and is raising £350m to offer ordinary shares at an issue price of 100p.
The firm is also expected to issue a further 650 million ordinary shares in the 12 months following the placing programme, which will be targeted outside the US to people who are not US citizens.
Focusing on mid-cap infrastructure in the global transport and logistics, utilities and digital infrastructure sectors, Alinda Capital predicts to offer long-term results to shareholders.
US infrastructure fund Alinda will be Alinda Capital’s investment manager and predicts that the firm will deploy capital on an increasing basis over the next two years, initially committing £200m but then growing to reach between £500m and £600m within two years.
“We are delighted to present investors with this opportunity to invest in a London-listed investment company focused on our proven, successful, strategy of core plus mid-market global infrastructure investment, seeking, once fully invested, to generate attractive net asset value total returns of 10-12 per cent per annum over the medium-term, including a progressive dividend of 5p per ordinary share from the second full financial year,” said Alinda’s managing partner Andrew Bishop.
“We believe that the current opportunity in this sector, which forms the backbone of our fifteen year and $12.5bn history, is extremely compelling, with a strong risk adjusted total return profile, and, with the company’s portfolio expected to have particular emphasis on the highly attractive transport and logistics, utility related and digital infrastructure sub-sectors.”