LONDON (Alliance News) - GCP Infrastructure Investments Ltd Thursday opened a share placing to raise up to GBP75 million.
In a statement, GCP said the net asset value, placing price and target fundraising amount will be announced on November 17.
It will announce the results of the placing on or around November 21, it said, following the close of applications at 1200 GMT on November 20.
The placing price will be based on NAV calculated on November 10. The trust said the placing price per new share will be at a premium to that NAV, meaning the placing will add to the existing value of existing investors' holdings.
GCP is advised by Gravis Capital Partners LLP. Oriel Securities and Cenkos are handling the placing.
GCP shares were flat at 113.75 pence on Thursday.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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GCP Infrastructure Investments (GCP)