LONDON (Alliance News) - GCP Infrastructure Investments Ltd on Wednesday said it has decided to increase the size of its placing to GBP50.0 million and reserves the right to increase its placing to a maximum of GBP75.0 million, after identifying new investment opportunities.
The infrastructure investment vehicle said it will now raise up to GBP50.0 million under its placing programme, at a price of 116.50 pence per share, in light of the new investment opportunities. It had previously been intending to raise GBP35.0 million.
Shares in GCP Infrastructure were down 0.1% at 118.00p on Wednesday.
"The board, in its discretion and subject to the availability of suitable investment opportunities, reserve the right to increase the size of the placing up to a maximum of GBP75.0 million," GCP Infrastructure said in a statement.
The placing, which opened on Monday, will close on Friday.
By Hannah Boland; hannahboland@alliancenews.com; @Hannaheboland
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GCP Infrastructure Investments (GCP)