Babcock & Brown scales back orders in first UK listing

The Australian investment firm raises ú300 million from the listing of its public partnerships fund.

Sole placing agent UBS has generated enough investor demand to allow Babcock Brown to raise ú300 million $570 million from its first foreign listing, a public infrastructure fund containing 22 assets. The amount was at the top end of Babcock BrownÆs expectations.

Subscription results were announced by UBS on Monday, with the company due to start trading on the London Stock Exchange tomorrow November 9.

Babcock Brown says orders for the ordinary shares priced at 100 pence each were...

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