TINC

• The subscription price was set at €12.40 per share with a rights ratio of 1:3 (1 new share for three existing shares)
• 8.8% discount to TERP
• 11.4% discount to the closing price prior to announcement
• Key shareholders Belfius and Gimv with 11.51% and 10.67% stakes, respectively, pre-committed to subscribe for their rights in full 84.6% of the new shares were subscribed for during the rights subscription period
• The remaining 1,401,550 shares were placed at a tight discount of 2.5% to market for €13.70 per share via an accelerated bookbuild offering
• The order book of the Rump Placement was multiple times covered with over 30 investors coming into the book, reflecting strong demand from a wide variety of long-only investors, momentum players and family offices
• Gross proceeds of c. €113 million will be used to finance €85.3m worth of projects and €17.2m for two acquisitions, amongst others

Company description

About TINC

• TINC is a listed investment company, participating in companies that realise and operate infrastructure
• The company holds a diversified investment portfolio of participations in public private partnerships, energy and demand based infrastructure, located in Belgium, the Netherlands and Ireland
• The participations are actively monitored by an experienced team of investment and infrastructure professionals with offices in both Antwerp and the Hague