B&B Infrastructure raises up to A$440 million

The Australian energy and transport trust tempts investors with the issue of up to 234 million new shares on a day when the market drops below 6,000.

Babcock Brown Infrastructure BBI has used the announcement of a 65% increase in half year earnings to place up to 234.5 million new stapled securities with institutional investors.

The two-day bookbuild is set to close later today Wednesday with the company hoping to raise a minimum of A$325 million $256 million or up to A$440 million if the offer is oversubscribed. The proceeds will be put towards BBIÆs purchase of US utility company NorthWestern Energy û a purchase...

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