INPP raises £80m

Infrastructure investor International Public Partnerships (INPP) has closed its share placement, raising the required £80m.

The fundraising was launched on 29 November and was oversubscribed, with INPP reporting demand from both existing and new customers.

The New Ordinary Shares will be issued at 150 pence per share, which represents a discount of 3.2% to the closing price prior to the fund raising announcement.

INPP chairman Rupert Dorey said: “The net proceeds of the issue will be used to reduce the drawn element of the company’s debt facility and position the company to bid for new opportunities.”