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Bilfinger to list fund in London
Construction services group Bilfinger Berger plans to list an infrastructure fund in London later this month, raising £212m to invest in a portfolio of assets ranging from roads to prisons. The Luxembourg-incorporated Bilfinger Berger Global Infrastructure (BBGI) is offering 212m shares at a fixed price of £1 each, it said in a statement yesterday, and is due to begin trading on 21 December. BBGI has been marketing the sale for two months and has already received enough orders from investors for all the shares on offer, a source close to the deal said, with demand from both retail and institutional buyers.