International Public Partnerships targets £250m fundraise through initial issue

Issue price of 159.5p per share

International Public Partnerships (INPP) intends to raise £250m by way of an initial issue, with the proceeds used to pay down the cash drawn portion of its corporate debt facility and fund its global investment pipeline.

The infrastructure investment trust has announced a placing, open offer, offer for subscription and intermediaries offer at an issue price of 159.5 pence per share, representing a discount of 6.5% to the closing price of 170.6 pence per existing ordinary share as at the close of business on 7 April. The funding will go towards paying down its debt facility, which stood at approximately £156.2m as of 6 April 2022. INPP's investment pipeline includes social and transport infrastructure and regulated utilities, together valued in excess of £178.2m and selected by its investment adviser, ...