LONDON (Alliance News) - SQN Asset Finance Income Fund Ltd on Wednesday said it has raised GBP180.0 million through its placing, open offer and offer for subscription of C shares.
The offer was oversubscribed, the equipment leasing fund said. A total of 125.3 million C shares will will be issued under the placing, 51.5 million under the open offer, and 3.2 million under the offer for subscription. The C shares were priced at 100 pence each.
Ordinary shares in SQN were up 0.9% at 107.23 pence on Wednesday morning.
The money will be used to invest in a "pipeline of opportunities" valued at more that GBP120 million, with the remainder to be invested in line with the company's investment policy.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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