3i Infrastructure Share Discussion Threads

[jonwig] 29/9/2020 14:42

"Results tomorrow" is a surprise, I'd no idea! Thanks.

[lasata] 29/9/2020 13:51

Any surprises expected in the results tomorrow?

[jonwig] 09/7/2020 07:24

Portfolio update, all good:

[chc15] 07/5/2020 09:14

Looks great to me, long term holder, but defo looking to add if mkts wobble again.

[jonwig] 07/5/2020 07:56

And NAV 254.5p, so the premium has disappeared. Whether the markets can send the price much higher, I doubt it for the present.

A very firm hold for me.

[rik shaw] 07/5/2020 07:30

Target dividend for next year +6.5%


'The dividend to shareholders for FY20 was fully covered, with a significant surplus'

[faz] 20/3/2020 09:15

I agree and got out when the shares hit 280p. Back in once the sun shines

[jonwig] 20/3/2020 07:15

Trading update:



Preetty reassuring, but NAV will be impacted.

[peterbill] 18/2/2020 11:36

These are trading at a premium of 30% according to the HL site.
They also have an ongoing charge of 3.4%
In March 2 years ago, they paid a special divi of 41p ... possibly due another special divi but can’t find any mention of it?

Some big sells today?

[jonwig] 17/2/2020 12:30

rogsim - yes, thank you!
(Under media not investors!!)

[peterbill] 17/2/2020 11:34

Thanks Rogism ... very informative. Thinking of adding here .... NAV around 250/260 share price around 315 so looks like a special is priced in. Either that or very overpriced?

Just imho ...

[rogsim] 17/2/2020 11:16

jonwig

Is this what you are looking for?

[jonwig] 17/2/2020 10:43

PeterB - maybe. After a big sale they could do.

BTW - I can't find the capital markets event materials.

[peterbill] 17/2/2020 10:31

Any news on another special divi?

[peterbill] 13/2/2020 16:25

Capital Markets Event

3i Infrastructure plc ("3iN") will be holding a capital markets event today, involving presentations from the management teams of Ionisos, Joulz and Tampnet.

No material new information or update on current trading will be provided during the event. Presentation materials will be made available on 3iN's website

[jonwig] 30/1/2020 07:40

Q3 trading - very positive:



Est. year-end nav 253p.

[jonwig] 19/12/2019 14:41

Sale of stake in WIG:



What a deal!! Probably explains the earlier portfolio sale (06/12) which were mature interests.

[milesy] 18/12/2019 08:41

Just added to my SIPP to get some infrastructure focus...

[stevie blunder] 06/12/2019 17:36

Interesting that they dont seem to say whether today's sale is above or below carrying value, that seems an omission
But at the end of Sept it seems the Projects Portfolio was worth £197M, that is for the UK and European I assume since I cant see a breakdown in the Interims.
Table 1 here:


The UK part of the Projects Portfolio is being sold for £194M and the European part will be sold later.
I reckon there will be at least some uplift to the NAV, looks like a sound move.

[stevie blunder] 07/11/2019 09:18

Only if you have used up the £1000 tax free interest allowance?

[jonwig] 07/11/2019 08:59

Same here, in my ISA. But held outside an ISA, isn't interest more likely to be taxed higher?

[stevie blunder] 07/11/2019 08:53

This is interesting for some depending on your tax status:

(I have mine in an ISA so wont make a difference to me.)

Designation of dividends as interest distributions



As an approved investment trust, the Company is permitted to designate dividends wholly or partly as interest distributions for UK tax purposes. Dividends designated as interest in this way are taxed as interest income in the hands of shareholders and are treated as tax deductible interest payments made by the Company. The Company expects to make such dividend designations in periods in which it is able to use the resultant tax deduction to reduce the UK corporation tax it would otherwise pay on the interest income it earns from its investments. The Board is designating 3.4 pence of the 4.6 pence interim dividend payable in respect of the period as an interest distribution.

[jonwig] 07/11/2019 07:50

Consistent H1 performance again:

The Company generated a total return of 5.8% on opening NAV for the first half of the year, ahead of its target return of 8% to 10% per annum to be achieved over the medium term. The NAV per share increased to 243.6 pence. The portfolio is performing in line with expectations, both financially and operationally, with our Investment Manager driving value growth over the period through active asset management of the portfolio. We are very pleased to have completed the acquisition of Ionisos, further improving the diversification of the portfolio.

The Company delivered a Total Shareholder Return ('TSR') of 8.9% in the period (FTSE 250: 6.3%). Since IPO, the Company's annualised TSR was 13.6%, comparing favourably with the broader market (FTSE 250: 7.6% annualised over the same period). The Company has achieved this outperformance with a low correlation to the broader equity market.



NAV premium is 'only' 18% now!

[jonwig] 11/10/2019 07:09

Result of placing;

3iN plc is pleased to announce the completion of the equity placing announced on 3 October 2019.

A total of 81,000,000 new ordinary shares of no par value each were issued at a price of 275 pence per Share, raising gross proceeds of approximately GBP222.8 million. The Shares being issued represent approximately 9.9 per cent. of 3iN plc's issued ordinary share capital prior to the Placing. The issue was substantially oversubscribed and the issue price represents a discount of approximately 7.6 per cent. to 3iN plc's share price immediately prior to the announcement of the Placing and a premium of 19.4 per cent. to the latest disclosed net asset value as at 31 March 2019 of 230.4p per ordinary share after adjusting for the dividend paid since.

[jonwig] 03/10/2019 09:42

hirani - it's non-preemptive, so no. But you could ring up one of the two bookrunners and find out the terms.

You'd be asked how many shares you would buy and what price. It would be well outside my league!