HICL to proceed with fundraising

HICL Infrastructure Co Ltd says it intends to proceed with a placing, open offer and offer for subscription of ordinary shares during the first quarter of this year. As noted in its announcement of last week, the company currently has a funding surplus of around £6m, but also has commitments of approximately £200m in aggregate in respect of conditional acquisitions which are expected to complete during the first half of 2017.

The pipeline of potential new acquisitions remains healthy and the investment adviser, InfraRed Capital Partners, is confident that further attractive investment opportunities will arise in the coming months.

At 3:27pm: (LON:HICL) HICL Infrastructure Co Ltd share price was -1.45p at 161.35p