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JLIF completes placing

07 March 2016 15:46

John Laing Infrastructure Fund Limited has completed the placing announced on 25 February raising GBP92.9m.

A total of 81,160,095 new ordinary shares were placed at 114.5 pence apiece.

The issue was oversubscribed and the issue price represents a discount of approximately 0.6% to JLIF's share price (adjusted for the 3.41p dividend declared on 25 February which went 'ex-div' on 3 March) immediately prior to the announcement of the placing. Chairman Paul Lester said: "We are delighted to have completed another successful Placing. This brings the total amount of additional funds that JLIF has raised since launch to over £900 million, reflecting the strong underlying investor demand for our business model, and for infrastructure as an asset class. The proceeds from this latest placing will be used to repay the debt currently drawn on our revolving credit facility, and allow JLIF flexibility to finance future acquisitions from a strong pipeline of projects in the UK and Continental Europe."

At 3:46pm: (LON:JLIF) John Laing Infrastructure Fund Ltd share price was +1.25p at 115.65p

Story provided by StockMarketWire.com

Related Company: JLIF

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