Last checked at 
16 May 2008 15:20
Not for publication, release or distribution in whole or in part in Australia, Canada, Japan or the United States
HSBC Infrastructure Company Limited
Placing and Offer for Subscription of C Shares at an Issue Price of £1.00 per C Share
The Board of HSBC Infrastructure Company Limited ("HICL" or the "Company"), announces the results of its Placing and Offer for Subscription of C Shares (the "Issue").
The Company is pleased to announce that it has raised £103.6 million through the Issue. 103,600,000 HICL C Shares will be issued at a price of £1.00 per C Share, of which 7,123,913 C Shares will be issued pursuant to the Offer for Subscription and 96,476,087 C Shares will be issued by way of the Placing.
The net proceeds of the Issue will be used to repay existing borrowings, thereby providing greater flexibility in making further investments in the infrastructure market as suitable opportunities arise. Shareholder funds will be fully invested in HICL's current portfolio shortly after the Issue, which will avoid the Company holding uninvested cash balances.
Application has been made for the C Shares to be admitted to the Official List of the UK Listing Authority and to trading on the main market for listed securities of the London Stock Exchange.
The International Security Identification Number for the C Shares is GG00B2R01586.
Oriel Securities Limited and Dresdner Kleinwort Securities Limited acted as Placing Agents.
Graham Picken, Chairman of HSBC Infrastructure Company Limited said "We are very pleased by the response from existing and new investors to our fundraising. We are now well positioned to take advantage of opportunities to expand HICL's portfolio as and when these arise."
Expected timetable:
| Admission to the Official List and unconditional dealings in the C Shares to commence on the London Stock Exchange
| 8.00 a.m. on 21 May 2008 |
| CREST accounts credited | 21 May 2008 |
| Conversion of C Shares into Ordinary Shares | June 2008 |
For further information, please contact:
| HSBC Specialist Fund Management Limited Tony Roper Keith Pickard Sandra Lowe | +44 (0) 20 7991 8888 |
| Oriel Securities Limited Tom Durie Emma Ormond | +44 (0) 20 7710 7600 |
| Dresdner Kleinwort Securities Limited Dominic Waters Robbie Robertson David Yovichic | +44 (0) 20 7475 6688 |
| M: Communications Ed Orlebar Tilly von Twickel | +44 (0) 20 7153 1530 |
This announcement does not constitute an offer of, or the solicitation of an offer to buy or subscribe for, C Shares to any person in any jurisdiction to whom or in which such offer or solicitation is unlawful and, in particular, is not for release, publication or distribution in or into the United States, Australia, Canada or Japan. The Offer for Subscription and the Placing of the C Shares has not been and will not be registered under the US Securities Act of 1933, as amended or under the applicable securities laws of Australia, Canada or Japan. Subject to certain exceptions, the C Shares may not be offered or sold in Australia, Canada, Japan or the United States.
The contents of this announcement have been prepared by and are the sole responsibility of HICL. Oriel Securities Limited ("Oriel Securities") and Dresdner Kleinwort Securities Limited ("Dresdner Kleinwort"), both of whom are regulated by the Financial Services Authority, are acting exclusively for HICL and no-one else and will not be responsible to anyone other than HICL for providing the protections afforded to the clients of Oriel Securities and Dresdner Kleinwort respectively, nor for affording advice, the contents of this announcement or any matter referred to herein.