3i Infrastructure says on track to meet targets
Investment company 3i Infrastructure said on Tuesday it was on track to meet the targets it had set at the time of its initial public offering (IPO) in March last year.
3i confirm bid for Novera Energy"The assets in the company's portfolio are generating returns in line with expectations and the board is encouraged by the quality of the investment opportunities presented by the Investment Adviser," Chairman Peter Sedgwick said in a trading update.
The company, which raised 700 million pounds from its IPO, said it invested 444 million pounds in the period January 16, 2007, to March 31, 2008.
3i Infrastructure confirmed last month it had approached British wind-farm developer Novera Energy about a possible 112 million pound takeover at 90 pence per share. No formal offer has been made but it holds a 10 percent stake.
Shares in 3i Infrastructure had closed at 110.25 pence on Monday, valuing the company at around 775 million pounds, and which compares with its IPO offer price of 100p.
(Reporting by Mike Elliott, editing by Elizabeth Fullerton)
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