GCP Infrastructure Investments has admitted 40,000,000 ordinary shares to trading on the Official List and to trading on the London Stock Exchange’s main market for listed securities.
The company has raised GBP40m through a placing and offer for subscription of 29,840,909 ordinary shares and the switching into 10,159,091 ordinary shares, at a price of GBP1.00 per share
Based on the offer price, the company has a market capitalisation of GBP40m
Stephen Ellis, managing partner of Gravis Capital Partners, the investment adviser to GCP, says: "This is a very good result. In spite of difficult market conditions, the quality of our concept and, in particular, the projected eight per cent net yield and inflation protection, appealed to our core target investors among institutions and private client stockbrokers, and allowed us to achieve a successful close.
”The future growth prospects for the sector remain buoyant – despite the current review of some areas of government spending on new projects, the Private Finance Initiative remains a key mechanism for central and local government commitments to deliver social infrastructure efficiently."
