19/01/2012 The London Stock Exchange welcomes BBGI to the Main Market
Today, the management of Bilfinger Berger Global Infrastructure SICAV S.A (BBGI) opened the London Markets in a market open ceremony at the London Stock Exchange.
On 21 December 2011, BBGI was admitted to the premium segment of the Official List of the UK Listing Authority and to trading on the main market of the London Stock Exchange demonstrating the interest from the capital markets in infrastructure funds and their recognition of the strength of BBGI’s assets, its attractive yield, the quality of its management and the potential of the company.
BBGI is a newly established, closed-ended investment company incorporated in Luxembourg. The Company raised £212 million in its IPO and plans to use the proceeds to invest in a portfolio of up to 19 infrastructure projects which the Directors believe offer investors access to high quality and diversified PFI/PPP assets, all backed by public-sector counterparties, across availability-based road projects and a range of social infrastructure including schools, hospitals and prisons.
The portfolio, which is spread across the UK (41.4%), Canada (26.9%), Australia (26.9%) and Germany (4.8%), has strong yield characteristics and potential for value enhancement through internal management and further acquisitions. BBGI will target an initial 5.5% annualised dividend yield (based on the £1.00 issue price) and aims to increase its dividend yield progressively over the longer term.
RBS Hoare Govett acted as global co-ordinator, joint sponsor and joint bookrunner to for the IPO, alongside Oriel Securities as joint bookrunner. Hogan Lovells acted as counsel to BBGI and Freshfields acted as counsel to the joint bookrunners. Maitland acted as the financial communications advisor.