CKI raises $300 million from top-up placement

Cheung Kong Infrastructure, controlled by Hong Kong tycoon Li Ka-shing, draws strong demand from long-only institutions for its latest share offering.
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Acquisitions such as Northumbrian Water in the UK are expected to drive growth at CKI
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<div style="text-align: left;"> Acquisitions such as Northumbrian Water in the UK are expected to drive growth at CKI </div>

Cheung Kong Infrastructure CKI has raised HK$2.3 billion $300 million from a top-up share placement. The bookbuilding was launched at around 5pm Hong Kong time on Wednesday and closed after about four hours. The pricing and allocations went out early yesterday morning.

CKI, part of Li Ka-shing’s Cheung Kong Group and the biggest publicly listed infrastructure company in Hong Kong, offered 50.9 million shares at a price between HK$45.25 and HK$46.50 each, which translated into a discount of 3.1% to 5.7% versus Wednesday’s close of HK$48.

The price was fixed near the low end at HK$45.75, a 4.7% discount from...

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