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LONDON (Alliance News) - GCP Infrastructure Investments Ltd Monday said it has decided to increase the size of its placing of new shares to GBP70 million from the original GBP30 million after it identified "additional investment opportunities".
Earlier in June, the company said it planned to raise GBP30 million under its placing programme at a price of 114.75 pence, a 7.9% premium to the net asset value of the fund on May 29, when it first outlined its plans to raise the new funding to pursue potential acquisition opportunities.
GCP shares were down 0.2% to 116.52 pence per share on Monday afternoon.
GCP has decided to increase the placing to GBP70 million, at the same placing price, because the company's investment adviser, Gravis Capital Partners LLP, has identified additional investment opportunities, it said in a statement.
The results of the placing are expected on Wednesday.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
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