Alinda Capital Infrastructure Investments plans £350 million IPO

Alinda Capital Infrastructure Investments plans £350 million IPO

LONDON, UK: Alinda Capital Infrastructure Investments Plc announced its intention to launch an initial public offering (IPO) and to admit its shares to trading on the Specialist Fund Segment of the Main Market of the London Stock Exchange.

Alinda Capital Infrastructure Investments is seeking to raise £350 million by means of a placing and offer for subscription of Ordinary Shares at an issue price of 100 pence per Ordinary Share.

In addition, pursuant to the Prospectus expected to be published in due course, a placing programme will enable the Company to issue a further 650 million Ordinary Shares and/or C Shares in the 12 months from the date of publication of the Prospectus and following Initial Admission.

The Initial Issue and Placing Programme will be a targeted offering outside the United States to persons who are not “U.S. Persons” as defined in Regulation S under the U.S. Securities Act of 1933 (“U.S. Persons”) in offshore transactions within the meaning of and in accordance with the safe harbour from the registration requirements provided by Regulation S.

Alinda Capital Infrastructure Investments is a newly established closed-ended investment company that will seek to generate attractive total returns (on a risk adjusted basis) for Shareholders over the longer term, comprising capital growth and a progressive dividend, through investment primarily in core-plus, mid-market infrastructure and infrastructure-related investment opportunities globally.

Alinda has identified a number of infrastructure investment opportunities in the three Key Sectors that are well suited to the Company’s investment objective and investment policy, and the Investment Manager is undertaking due diligence on, or is in discussions for the Company to participate in, a number of these opportunities. The total equity opportunity for the Company in these Pipeline Assets is equal to approximately $660 million (approximately £485 million).

Peel Hunt LLP is acting as sole financial adviser and joint bookrunner to the Company, and, with effect from Initial Admission, will act as the Company’s joint corporate broker.

Numis Securities Limited is acting as joint bookrunner to the Company, and, with effect from Initial Admission, will act as the Company’s joint corporate broker.

Andrew Bishop, Managing Partner of Alinda, commented: “We are delighted to present investors with this opportunity to invest in a London listed investment company focused on our proven, successful, strategy of core plus mid-market global infrastructure investment, seeking, once fully invested, to generate attractive NAV total returns of 10-12% per annum over the medium-term, including a progressive dividend of 5 pence per Ordinary Share from the second full financial year.

We believe that the current opportunity in this sector, which forms the backbone of our fifteen year and $12.5 billion history, is extremely compelling, with a strong risk adjusted total return profile, and, with the Company’s portfolio expected to have particular emphasis on the highly attractive transport and logistics, utility related and digital infrastructure sub-sectors.

The Company has an advanced pipeline of investments, with the potential to deploy capital rapidly into investments of exceptional quality, and, with over £200m expected to be committed within the first three months of Admission.”

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