London Stock Exchange welcomes Pantheon Infrastructure PLC to the Main Market

The London Stock Exchange today welcomes Pantheon Infrastructure PLC, a new investment company that will provide exposure to a global, diversified portfolio of infrastructure assets, to the premium segment of the Main Market, trading under the ticker symbol “PINT”.

PINT’s initial public offering raised gross proceeds of £400 million via a placing, an offer for subscription and an intermediaries offer at an issue price of 100 pence per ordinary share, with demand exceeding both the target issue size and maximum issue size.

Proceeds will be used to invest in a portfolio of yielding and growth infrastructure assets in developed markets, with a focus on Europe and North America. Target assets will typically be operational companies in infrastructure sectors benefitting from secular growth trends and that provide strong downside protection, including contracted cash flows, inflation linkage, conservative leverage profiles and strong Environmental, Social and Governance credentials. Once fully invested, the Company is targeting NAV total return per share of 8-10% per annum and a dividend yield of 4 pence per Ordinary Share, and thereafter a progressive dividend.

Pantheon Ventures (UK) LLP is the Company’s investment manager. Founded in 1982, Pantheon is a leading global multi-strategy investor in private equity, infrastructure & real assets, private debt and real estate, with total assets under management and advice of $77.1 billion (as of 30 June 2021). Pantheon is one of the largest managers investing in infrastructure globally, having launched a dedicated platform in 2009 with $16.6 billion under management and advice (as of 30 June 2021).

Quick facts

Track
Market: Main Market
Instrument market cap (£m)
432.00
Listing/Admission to trading
16 Nov 2021

Vagn Sørensen, Chairman of Pantheon Infrastructure PLC, said:

“We are delighted to bring PINT to the Main Market of the London Stock Exchange, providing investors with a differentiated and cost-efficient way to access assets with strong inflation protection and exposure to long-term secular growth trends, such as exponential growth in the demand for digital infrastructure and the transition to a low-carbon global economy. The Board looks forward to working with Pantheon to deliver attractive, long-term returns to our investors.”

Richard Sem, Partner, Pantheon Ventures, added:

“Private capital has an important role to play in filling the substantial infrastructure funding gap globally, with a projected $13 trillion shortfall in capital expenditure required to improve aging infrastructure and build new projects by 2040. Pantheon has a strong track record in this important asset class – and we have a compelling pipeline of opportunities to construct a diverse portfolio for investors, in the process supporting the sustainable growth and development of our global economies.”

Investec Bank acted as Sole Sponsor, Financial Adviser and Bookrunner to the Company.

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