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GCP Infrastructure placing increased

08 July 2016 14:56

GCP Infrastructure Investments' board has increased the size of the placing announced on 6 July from £50m to £75m.

The company said the placing has been significantly oversubscribed and scale back has been applied. GCP will issue 64,377,682 new ordinary shares at 116.50 pence apiece.

The board understands that this placing is the first material issue of shares by an issuer traded on the Main Market of the London Stock Exchange since the EU referendum.

The board says it is particularly pleased by this outcome given the volatility in UK equity markets following the referendum. The investment manager believes this shows the strength of the continued investor appetite for the Company's investment mandate and objective of providing Shareholders with regular, sustained, long-term distributions.

The board also notes that applications for c.2.4 million new ordinary shares were received from partners and employees of the investment manager.

At 2:56pm: (LON:GCP) GCP Infrastructure Investments Ltd share price was -0.2p at 118.1p

Story provided by StockMarketWire.com

Related Company: GCP

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