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18.03.08 Placing and Offer for Subscription of C Shares
last modified
2008-03-19 13:28
18 March 2008
Not for publication, release or distribution in whole or in part in
Australia, Canada, Japan or the United States
Babcock & Brown Public Partnerships Limited
Placing and Offer for Subscription of C Shares at an Issue Price of 100 pence per C Share
The Board of Babcock & Brown Public Partnerships Limited (“BBPP”) today announces its intention to raise £140 million by means of a Placing and Offer for Subscription of C Shares1.
BBPP is a global public infrastructure investment company. BBPP offers Shareholders an exposure to investment in infrastructure assets, particularly those with a public or social character such as those developed by public bodies under private finance initiative (“PFI”) or public private partnership (“PPP”) procurement.
The Existing Ordinary Shares were admitted to the Official List and to trading on the London Stock Exchange’s main market for listed securities on 9 November 2006. BBPP had a market capitalisation of £319.5 million (as at 13 March 2008), and total net assets of £330.4 million (as at 31 December 2007). The Net Asset Value of BBPP is 110.1 pence per Ordinary Share (as at 31 December 2007). This has grown by 11.6 per cent since the Initial Public Offer and total dividend distributions by the Company for the period from listing of BBPP to 31 December 2007 were 5.975 pence per Ordinary share.
For a full copy of the press release, please click here
1 BBPP has the right to increase the size of the Issue by up to 50 per cent of the targeted amount
2 These are targets only and not profit forecasts. There can be no assurances that these targets will be met