(Adds dividend detail)
LONDON (Thomson Financial) - 3i Infrastructure Ltd. said it plans to raise
114.6 million pounds through a placing of about 108.13 million shares at 106
pence each to fund further investment in infrastructure assets globally.
The company said 3i Group has irrevocably undertaken to subscribe for around
23.58 million shares at a subscription price of about 25 million pounds.
In a separate statement, the company said its diluted net asset value per
share (pre-dividend) was 108.6 pence for the period from incorporation on Jan.
16, 2007 to March 31, 2008.
The company also said it has agreed to sell its interest Alma Mater Fund,
which was purchased from 3i Group under the option agreement granted at the time
of IPO, adding it may proceed with additional selective disposals in the shorter
term.
Notwithstanding a backdrop of volatile equity markets and adverse credit
conditions, the company said it continues to believe that the prospects for the
infrastructure asset class remain very attractive.
"With a good return in the first year, a strong pipeline of opportunities
and liquidity to invest, the Board feels confident that 3i Infrastructure is
well positioned to build on the strong performance since IPO," chairman of 3i
Infrastructure Peter Sedgwick said.
The company declared a final dividend of 3.0 pence, bringing the total
dividend for the year to 5.0 pence.
TFN.newsdesk@thomson.com
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