QuotedData’s morning briefing 17 November 2020

In QuotedData’s morning briefing 17 November 2020:

  • BBGI Global Infrastructure has announced a placing of up to £55m worth of shares at a price between 164p and 172p. the money wil be used to help pay for a 25% stake in Signature on the Saint-Lawrence Group, the operator of the Samuel De Champlain Bridge Corridor in Montreal, Quebec, Canada. The project originally consisted of the design, construction, financing, operation, maintenance and rehabilitation of a new bridge spanning the St. Lawrence River between Montreal and Brossard, Quebec. The bridge opened to traffic in summer 2019 and the concession runs until 2049.
  • Shaftesbury raised £307m in total from its fundraise after an additional £10m came in from its offer for subscription, topping up the £297m it raised via a placing.
  • Gore Street Energy Storage has executed a fixed-price, turnkey engineering, procurement and construction (“EPC”) contract and a long-term operations and maintenance (O&M) contract, with Fluence, for the company’s 30MW Porterstown project in the Republic of Ireland. Gore Street says that it has applied for an extension to expand the grid connection of Porterstown, which could see the capacity of this project increase substantially. The 30MW Kilmannock project has also applied for an extension to expand its grid connection. Connection works at Kilmannock continue to progress, but construction will most likely commence at a later date due to Eirgrid’s updated timeline on grid connectivity. Together, this potential extension would increase the portfolio in ROI from 60MW to up to 180MW.
  • EPE Special Opportunities Limited has sold 4,000,000 shares in Luceco plc in the market, 9.1% of its stake, for £10m. The money will be used to fund new investments. [Luceco has long been EPE Special Opportunities’ largest investment and, since its IPO in 2016, significant fluctuations in its share price have largely driven NAV movements for the trust. We think shareholders in EPE will welcome this.]
  • Premier Global Infrastructure Trust is now Premier Miton Global Renewables Trust.
  • JPMorgan Brazil’s shareholders approved its liquidation. It is currently expected that the portfolio will be realised for cash no later than 25 November 2020. In this case, the joint liquidators would expect to distribute the cash proceeds of the liquidation of the portfolio, less the costs of the proposals and the amount attributable to the liquidation fund on or around 27 November 2020 to those shareholders appearing on the register as at the record date of 13 November 2020.
  • Assura, the primary care property investor, has reported a 4.3% increase in EPRA net tangible assets (NTA) to 56.2p. The company, which owns a portfolio of GPs, saw the value of its portfolio increase by 5.6% in the six months to the end of September to £2,259m.

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