Amber Infrastructure (‘Amber’), the Investment Adviser to International Public Partnerships Limited (‘INPP’ or the ‘Company’) notes INPP’s announcement that it has successfully raised gross proceeds of £325 million, completing its Placing, Open Offer, Offer for Subscription and Intermediaries Offer (together, the ‘Initial Issue’) and exceeding the initial target amount of £250 million.
The Initial Issue was oversubscribed several times over, with support from both new and existing investors. In light of this significant demand the Board of INPP elected to increase the size of the Initial Issue from the initial target amount of £250 million to the maximum New Shares available under the Initial Issue, raising gross proceeds of £325 million. Notwithstanding this, the demand was such that investors not benefiting from pre-emptive rights have been scaled back. The proceeds raised will be used to pay down the cash drawn portion of the Company's corporate debt facility totalling approximately £156.2 million as at 6 April 2022 and to provide additional resources to pursue the Company's investment pipeline.
In undertaking the allocation process the Company made every effort to balance the needs between current and prospective shareholders with particular reference to those existing long-standing investors who have supported the Company through its growth. The Company looks forward to developing similar long-term relationships with its new shareholders.
Further details on the transaction can be found on INPP’s website here.
For further information:
Amber Fund Management Limited
Erica Sibree/Amy Edwards
+44 (0) 7557 676 499 / +44 (0) 7827 238 355
Amber Infrastructure Group
Amber Infrastructure (‘Amber’) is a specialist international investment manager, focused on investment origination, asset management and fund management. With approximately €5 billion in funds under management, Amber invests across eight funds and a number of managed accounts. Amber’s core business focuses on sourcing, developing, advising, investing in and managing infrastructure assets across the public, transport, energy, digital and demographic infrastructure sectors that support the lives of people, homes and businesses internationally.
Amber is headquartered in London with offices in Europe, North America and Australia and employs over 150 infrastructure professionals.