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Pin to quick picks3i Group Share News (III)

Share Price Information for 3i Group (III)

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Share Price: 2,977.00
Bid: 2,974.00
Ask: 2,976.00
Change: 19.00 (0.64%)
Spread: 2.00 (0.067%)
Open: 2,959.00
High: 2,982.00
Low: 2,959.00
Prev. Close: 2,958.00
III Live PriceLast checked at -
3i Group is an Investment Trust

To provide its shareholders with quoted access to private equity and infrastructure returns, its main focus is on making quoted and unquoted equity and/ or debt investments in businesses and funds in Europe, Asia and the Americas.

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Portfolio income down but investment activity high at 3i Infrastructure

Thu, 07th Jul 2016 08:34

(ShareCast News) - Infrastructure investment company 3i Infrastructure updated the market on its performance in the quarter to 30 June on Thursday, with portfolio income down and investment activity high.During the period, the FTSE 250 company completed the acquisition of a 36% economic interest in Wireless Infrastructure Group for £75m and an investment in TCR of €200m.The company was part of a consortium appointed for the Hart van Zuid PPP greenfield project in the Netherlands, committing to invest €5m, and it completed a capital raise in early June with gross proceeds of £385m.3i's board said the portfolio was performing in line with expectations, generating portfolio income of £13.1m during the period - slightly down from the £14m in the first quarter of 2015.It claimed its liquidity position remained strong, with a pro forma cash balance of £177m on 30 June after the deduction of £148m for the investment in TCR and £29m for the payment of the final dividend for the year to 31 March.The company's undrawn revolving credit facility balance is £471m, including a £200m temporary additional facility."The portfolio is performing well and the company made some significant investments in the first quarter," said 3i Infrastructure chairman Richard Laing."The results of the capital raise were very encouraging and the board was pleased with the strong support received from both existing and new shareholders."Managing partners and co-heads of infrastructure at the company's investment adviser, 3i Investments, Ben Loomes and Phil White said they were pleased to have started the new financial year with investments in WIG, TCR and the Hart van Zuid project."We continue to develop our investment pipeline of economic infrastructure and greenfield projects where we see attractive risk-adjusted returns," they said.
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