3i Infrastructure PLC on Friday said it raised proceeds of £100 million, following a placing of shares announced on Monday.

The Jersey-based infrastructure investment trust said it issued 30.9 million shares at 330 pence each.

Shares in 3i Infrastructure were down 0.2% to 332p each in London on Friday morning.

‘We are pleased to announce the result of this capital raise and we would like to thank our shareholders for their continued support,’ said Chair Richard Laing.

‘The proceeds will provide the company with useful additional flexibility to fund attractive discretionary growth opportunities in our portfolio, such as a recent £28 million commitment to acquire Future Biogas, which as a sister company to Infinis will form the largest producer of green gas in the UK.’

On Monday, it said the funds will also be used to pay down drawings on its revolving credit facility.

At the end of 2022, 3i Infrastructure had drawn £555 million from its RCF, leaving undrawn commitments of £345 million. It held £75 million in cash. In the period since, it paid interim dividends totalling £50 million.

Copyright 2023 Alliance News Ltd. All Rights Reserved.