Share Name Share Symbol Market Type Share ISIN Share Description
3i Infrastructure Plc LSE:3IN London Ordinary Share JE00BF5FX167 ORD NPV
  Price Change % Change Share Price Shares Traded Last Trade
  3.00 1.05% 288.00 1,045,314 16:35:10
Bid Price Offer Price High Price Low Price Open Price
286.50 287.50 287.50 284.50 285.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 224.00 26.40 10.9 2,567
Last Trade Time Trade Type Trade Size Trade Price Currency
17:16:02 O 2,523 288.014 GBX

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Date Time Title Posts
09/7/202007:243i Infrastructure - they get in early and bag a bargain299

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3i Infrastructure (3IN) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2020-09-25 16:16:03288.012,5237,266.59O
2020-09-25 15:35:10288.0043,148124,266.24UT
2020-09-25 15:29:52287.505051,451.88AT
2020-09-25 15:29:35287.505421,558.25AT
2020-09-25 15:16:56287.403811,094.98O
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3i Infrastructure (3IN) Top Chat Posts

3i Infrastructure Daily Update: 3i Infrastructure Plc is listed in the Equity Investment Instruments sector of the London Stock Exchange with ticker 3IN. The last closing price for 3i Infrastructure was 285p.
3i Infrastructure Plc has a 4 week average price of 283p and a 12 week average price of 283p.
The 1 year high share price is 317.50p while the 1 year low share price is currently 185p.
There are currently 891,434,010 shares in issue and the average daily traded volume is 810,231 shares. The market capitalisation of 3i Infrastructure Plc is £2,567,329,948.80.
rik shaw: Target dividend for next year +6.5% hTtps:// 'The dividend to shareholders for FY20 was fully covered, with a significant surplus'
peterbill: 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 ...
jonwig: 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: Unwelcome, but probably to be expected: Jefferies has downgraded 3i Infrastructure (3IN) as a tick up in its premium has left it in a ‘precarious’ place. Analyst Matthew Hose has downgraded his recommendation from ‘hold’ to ‘underperform’ with a target price of 302p on the stock, which is trading at a 30% premium to net asset value (NAV). ‘A 30% premium to NAV leads us to downgrade our recommendation on the fund to “underperform”,’ he said. ‘This is somewhat reluctantly given the quality of 3i Infrastructure’s proposition but the extent of the rating has left it precariously positioned in light of any potential portfolio activity.’ He added that he was ‘loathe to make pure valuation calls… particularly when the underlying fund is of high quality, as it is here’ but the shares have re-rated and there ‘are obvious risks to the fund’s near-term share price returns’. The shares fell 1.7% to 297p yesterday.
jonwig: Annual results: Strong stuff! The Company generated a total return of £258 million in the year ended 31 March 2019, or 15.4% on opening NAV, again exceeding the target of 8% to 10% per annum to be achieved over the medium term. The NAV per share increased to 234.7 pence. We delivered a Total Shareholder Return ('TSR') of 33.4% in the year (FTSE 250: 1.0%). Since IPO, the Company's annualised TSR was 13.4%, comparing favourably with the broader market (FTSE 250: 7.4% annualised over the same period). The Company has achieved this performance with relatively low share price volatility. The Company's share price performance relative to the FTSE 250 has been particularly strong over the last five years. NAV premium has narrowed to 18%. 2019-20 dividend target up 6.4% to 9.2p (8.65p).
jonwig: Thanks Q8Don. here's the key bit, taken from a Stifel analyst: ... such a high rate of asset sales can’t be maintained, said Iain Scouller, of Stifel, the stockbroker. “The fund’s strategy is buy and hold, and it normally expects to keep its assets for five or six years,” he told Questor. “However, if it gets a good offer, it will sell. Its timing has been good, but it’s not going to be selling infrastructure year after year.” It currently has only about 10 assets, most of them relatively new, and is buying more. “These businesses take time to bed in, so we cannot expect quick sales,” Scouller added. Another signal that the shares may have got ahead of themselves is the yield. Although the dividend was increased significantly in the most recent financial year, the yield is just 3.1pc, which is on the low side for an infrastructure trust. The sector is seen largely as a source of income, and many of 3i Infrastructure’;s rivals yield far more: HICL’s figure is 5pc, for example, while GCP Infrastructure Investments yields 5.9pc. Questor, therefore, fears that the premium could easily fall. In the absence of a sufficiently strong rise in the NAV, a falling premium means a falling share price, which in turn means bringing the yield more in line with that of the peer group. “I think the premium is unsustainable – you have to question it,” Scouller said. A falling premium is, of course, no reflection on the portfolio itself, which is managed by an arm of the long-established and larger 3i investment trust. “Although there have been some changes in personnel, it is overall a stable management structure,” Scouller said. “It’s now led by Phil White, who has an experienced team who’re good at getting the deals done.” The managers are certainly well paid: on top of the base 1.5pc annual charge, there is a performance fee of 20pc of any gains of more than 8pc a year, which Scouller said was anomalous in the infrastructure sector.
jonwig: @ Don J - yes, they did. And the share price didn't drop because of the consolidation. The 15-for-19 should ensure that the share price stays stable.
don julian: Remember when they did something similar, though on a smaller scale, a couple of years ago. Well, like you I wasn't too happy about turning unrealized cap gain into taxable divis. So I sold just before... and... to my great annoyance... they paid out the special divi and the share price didn't drop but went to a 15% premium. So I'd rather shot myself in the proverbial foot ?
jonwig: Special dividend details: The Company will return £425 million to shareholders by way of a special dividend of 41.4 pence per Existing Ordinary Share to be paid on 29 March 2018. ... A share consolidation is proposed, with every 19 Existing Ordinary Shares being consolidated into 15 New Ordinary Shares. The share consolidation is intended to maintain comparability, as far as possible, of the Company's share price before and after the payment of the special dividend. Might be worth thinking about reinvesting the divi in more 3IN shares?
jonwig: Citywire article includes some broker comment: Today the share price held steady at 201p with Iain Scouller, analyst at Stifel Fund, maintaining a ‘buy’ rating and a fair value of 215p, down from 217p previously. He believed nationalisation fears were unjustified, adding: ‘Post the capital distribution we think the shares should trade at the higher end of the range for the listed infrastructure sector, given the “non-dated” assets and low exposure to UK PFI. Therefore, we think the shares should trade on a 5% to 8% premium to estimated NAV post the capital repayment.’ Ewan Lovett-Turner of Numis Securities said in the past three years the investment company had successfully rotated its portfolio away from PFI and regulated assets towards more economically exposed sectors such as transport, logistics and communications. ‘While we believe that 3IN has a strong management team, and a portfolio of interesting businesses with attractive growth prospects, the return profile may be more difficult to predict in the event of a recession. Consequently, we believe the shares are less well suited for income seeking investors,’ he said. Http://
3i Infrastructure share price data is direct from the London Stock Exchange
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