Bilfinger Berger trust looks to raise up to £200m

The £295.6m Bilfinger Berger Global Infrastructure investment trust is looking to raise up to £200m to finance the acquisition of new infrastructure projects.

The trust said it was in sole discussions with its parent company, Bilfinger Group, around acquiring 11 infrastructure projects with a potential value of around £200m.

It is looking to raise the money to buy these projects through a new share issue and the amount it is looking to raise will depend on the number of projects that the trust is able to agree deals for.

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The trust said it will produce a prospectus for the new share issue “in due course” and proposed an extraordinary general meeting (EGM) for shareholders to approve the issue.

The share offer is likely to be extremely popular as data from the Association of Investment Companies (AIC) shows that the investment trust is trading on a 15.5 per cent premium to its net asset value.