Sequoia Economic Infrast... Share Price (SEQI)

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Share Name Share Symbol Market Type Share ISIN Share Description
Sequoia Economic Infrastructure Income Fund Limited LSE:SEQI London Ordinary Share GG00BV54HY67 ORD NPV
  Price Change % Change Share Price Shares Traded Last Trade
  0.20 0.19% 108.00 422,318 15:04:17
Bid Price Offer Price High Price Low Price Open Price
108.00 108.20 108.40 107.40 108.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial -65.36 -5.03 1,790
Last Trade Time Trade Type Trade Size Trade Price Currency
15:04:17 AT 1,661 108.00 GBX
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Sequoia Economic Infrast... (SEQI) Latest News

Sequoia Economic Infrast... News

Date Time Source Headline
15/1/202107:00UKREGSequoia Economic Infra Inc Fd Ld NAV and Investment Update
15/12/202015:30ALNCUK DIRECTOR DEALINGS SUMMARY: Sequoia Investment Adviser Sells 860,000
15/12/202009:58UKREGSequoia Economic Infra Inc Fd Ld Investment Adviser Share Sales
14/12/202007:00UKREGSequoia Economic Infra Inc Fd Ld NAV and Investment Update
07/12/202012:16ALNCSequoia On Track To Deliver On Dividend Target; Optimistic For Future
07/12/202007:00UKREGSequoia Economic Infra Inc Fd Ld Half-year Report
30/11/202017:30UKREGSequoia Economic Infra Inc Fd Ld Total Voting Rights
20/11/202007:00UKREGSequoia Economic Infra Inc Fd Ld Issue of Shares
13/11/202007:00UKREGSequoia Economic Infra Inc Fd Ld NAV and Investment Update
29/10/202011:59UKREGSequoia Economic Infra Inc Fd Ld Scrip Share Reference Price
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Sequoia Economic Infrast... Investors    Sequoia Economic Infrast... Takeover Rumours

Sequoia Economic Infrast... (SEQI) Discussions and Chat

Sequoia Economic Infrast... Forums and Chat

Date Time Title Posts
14/12/202007:18Sequoia Economic Infrastructure Income Fund99

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Sequoia Economic Infrast... (SEQI) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
15:04:17108.001,6611,793.88AT
15:04:17108.00215232.20AT
15:04:17108.00344371.52AT
15:04:17108.003,1423,393.36AT
15:01:20108.115054.06O
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Sequoia Economic Infrast... (SEQI) Top Chat Posts

DateSubject
18/1/2021
08:20		Sequoia Economic Infrast... Daily Update: Sequoia Economic Infrastructure Income Fund Limited is listed in the General Financial sector of the London Stock Exchange with ticker SEQI. The last closing price for Sequoia Economic Infrast... was 107.80p.
Sequoia Economic Infrastructure Income Fund Limited has a 4 week average price of 104.20p and a 12 week average price of 102.40p.
The 1 year high share price is 117.60p while the 1 year low share price is currently 74.60p.
There are currently 1,657,237,553 shares in issue and the average daily traded volume is 1,323,176 shares. The market capitalisation of Sequoia Economic Infrastructure Income Fund Limited is £1,789,816,557.24.
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07/12/2020
21:54		zeppo: Sticking with it for income:although the price is currently below the last Rights price which I took up.
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15/10/2020
07:00		zeppo: RNS today: 'The Directors of the Company have declared that an interim dividend of 1.5625p per share will be payable to holders of Ordinary Shares as follows in respect of the three-month period ended 30 September 2020:' Is this a slight increase?
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19/8/2020
14:00		ukneonboy: Although I liked the article recommending SEQI in the Daily Telegraph about a month ago I'm starting to think that SEQI shares are starting to look a bit expensive (over priced) at 109p each. Latest declared Net Asset Value 98p each which implies a 10.7% premium to Net Asset Value. Think I'm going to sell and wait for the SEQI share price to fall back to nearer the N.A.V before re-buying.
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13/7/2020
09:39		robow: here it is from the DT Questor: our ‘lending money to bridges’ fund is doing just what we hoped of it Questor Income Portfolio: the Sequoia Economic Infrastructure Income portfolio doesn’t expect Covid-19 to blow its dividend off course By Richard Evans 10 July 2020 • 6:00am Several of the recent additions to our Income Portfolio have issued updates in recent weeks. All were bought with the intention to make our income more secure. Is our strategy working? We’ll cover some of these updates in the coming weeks and will start with the Sequoia Economic Infrastructure Income fund. This trust, known as Seqi, is unusual in that it makes money from interest on loans advanced to the owners of infrastructure assets such as bridges. As these assets themselves tend to generate stable incomes, the trust’s dividends will, we hope, prove far more reliable than those in other parts of the market, where coronavirus has taken such a toll. The signs are good. In May last year the trust increased its annual dividend target from 6p to 6.25p a share, and in the annual report for the year to March the board said it expected, in the “absence of any significant restricting factors”, to pay that amount “for the foreseeable future”. It said it had carried out a “comprehensive portfolio and balance sheet review” in light of “exceptional market volatility arising from the Covid-19 pandemic and oil price collapse”. Its assessment of cash yields allowed the “reaffirmation of dividend cover and target for the financial year ending March 31 2021”. The actual dividend paid for the past financial year was 6.1875p, which reflects the fact that the target was raised part way through that year. We are, as always, less concerned about the value of a trust’s assets, which can be expected to wax and wane in a way that we hope dividends will not. The portfolio’s net asset value per share fell from 103.41p to 96.69p over the financial year as a result of the downturn in the financial markets generally, including those markets used by the trust’s independent valuation agents as pricing benchmarks for its assets. Once dividends were taken into account, the trust’s total return on the basis of net asset value over the year was minus 0.9pc. Although the trust does not expect the pandemic to affect its ability to pay the dividend, it has modified its investment strategy in response to the crisis. In a move that this column finds reassuring, the board said there had been a “redirection of the investment adviser’s resources from origination to enhanced credit and portfolio monitoring” – in other words, for now it is paying less attention to investing in new loans and more to making sure that its existing ones do not get into trouble. The managers are keeping at least one eye on possible new holdings for the portfolio, however. While the trust said it had imposed restrictions “on certain new investments”, this was done with a view to “preservation of balance sheet capacity to take advantage of difficult market conditions and opportunities to invest in new loans on attractive terms”. It explained that “in the current environment there is the possibility that a number of high-quality economic infrastructure investments will appear on the secondary market at attractive prices”. The secondary market is where lenders that originated loans sell them on to other investors. “As the company slowly ramps up deployment of its cash as the market improves, these opportunities could be a significant source of [outperformance] without sacrificing credit quality,” it added. Even if we assume that the global economy can recover well from the pandemic there is concern that vastly increased government spending across the world will stoke inflation. We can take comfort from the fact that 70pc of Seqi’s portfolio consists of “floating-rate investments”, which means that it will receive higher rates of interest on its loans if interest rates generally rise. Another positive development is that the ongoing charges ratio for the year to March was 0.96pc, compared with 1.02pc the previous year. We see this as reasonable in view of the detailed research needed before money is invested in assets of this type. This trust is doing what we hoped of it and we will hold. Questor says: hold Ticker: SEQI Share price at close: 104p
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25/6/2020
08:38		gateside: There was a new factsheet issued on 12th June.Maybe not low risk then, but it's certainly lower risk than many companies.SEQI make up 3% of my portfolio.
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25/6/2020
08:28		winsome: Not bad considering. Not entirely low risk as they do still have investments in student accommodation, airports, aviation, motorway services, hospitality, private schools, shipping and ferry service between Germany and Scandanavia which has been impacted by lockdown. Some of these you wouldn't touch as individual investments at the present time but let's hope most of them continue to pay interest. I'd like to have seen more detail and a breakdown of risk on individual assets. Seqi make up 5% of my portfolio. Also, why no monthly FAQ sheet for June? There was one last year despite being in same month as annual results.
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19/3/2020
00:57		apollocreed1: I can't believe my eyes! But I would speculate the following 2 points which is why it has fallen: 1) Today, supposedly risk-free government bonds sold off around the world as it seems now the world is seriously worried about the solvency of governments or just because investors are so desperate to meet margin calls that they will sell anything to pay their debts - including safe havens. So Sequoia is really an inflation-linked bond fund, and I believe a lot of their loans are to governments, so potentially, the borrowers to whom Sequoia has lent money are governments and are now of riskier credit quality. Now the truth of the matter is that all these governments will just print money to pay any debts they have and even if that causes inflation, SEQI's returns are index-linked so there should not be any problem with this. 2) SQN Secured Income Fund releases a statement yesterday saying "....In recent days, the Company has faced margin calls on its forward foreign exchange hedging as Sterling has weakened notably." SQN therefore decided to close their hedge in order to conserve cash. Now I'm puzzled why in the SEQI conference call the manager didn't even mention the performance of the hedge so it's possible that they lost some money on that. To paraphrase something Jim Rogers often says, "in a panic, investors always think that the world is ending, but it never ends and there will always be a recovery." I agree and think SEQI at this level is now the best risk-adjusted investment on the market.
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20/2/2020
14:47		skyblue65: zeppo From the Initial Issue and Share Issuance Programme RNS "The Board recognises the importance of pre-emption rights to Ordinary Shareholders. Accordingly, 184,908,574 New Ordinary Shares are being initially offered to Qualifying Shareholders by way of the Open Offer pursuant to which they will be entitled to apply for 2 New Ordinary Shares for every 15 existing Ordinary Shares held at 6.00 p.m. on 6 February 2020 (the "Record Date"). The balance of the New Ordinary Shares, together with any New Ordinary Shares not taken up by Qualifying Shareholders under the Open Offer, will be made available under the Placing and/or Offer for Subscription of New Ordinary Shares. " So it seems that there are potentially some 35 million plus shares available under open offer. The chances of getting a full allocation looks unlikely though as I assume there will be some institutional placing. I am watching the current share price with interest as I agree it could be approaching a good entry point.
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14/2/2020
10:46		speedsgh: Looking to raise an initial £250m gross at 112p... Initial Issue targeting £250 million and Share Issuance Programme - HTTPS://www.investegate.co.uk/sequoia-econ-infra--seqi-/rns/initial-issue-and-share-issuance-programme/202002100700054066C/ Further to the announcement on 20 January 2020, the Board of Directors of SEQI (the "Board"), the specialist investor in economic infrastructure debt, is pleased to announce a proposed partially pre-emptive issue of Ordinary Shares seeking to raise £250 million of gross proceeds before expenses (the "Gross Issue Proceeds"), equivalent to up to 223,214,285 new ordinary shares of no par value (the "New Ordinary Shares"). The Board have determined that the New Ordinary Shares will be issued at a price of 112.0 pence per New Ordinary Share (the "Issue Price") (the "Initial Issue"). The Board recognises the importance of pre-emption rights to Ordinary Shareholders. Accordingly, 184,908,574 New Ordinary Shares are being initially offered to Qualifying Shareholders by way of the Open Offer pursuant to which they will be entitled to apply for 2 New Ordinary Shares for every 15 existing Ordinary Shares held at 6.00 p.m. on 6 February 2020 (the "Record Date"). The balance of the New Ordinary Shares, together with any New Ordinary Shares not taken up by Qualifying Shareholders under the Open Offer, will be made available under the Placing and/or Offer for Subscription of New Ordinary Shares. The Company intends to use the proceeds raised from the Initial Issue (less expenses) (the "Net Issue Proceeds") to repay the drawn commitments under its £280 million Revolving Credit Facility ("RCF"). As at 31 December 2019, the Group had outstanding drawings on its RCF of £224 million and cash of £56.8 million, resulting in net leverage of £167.2 million. In addition, the Company had undrawn commitments on existing investments collectively valued at £92.7 million. Any Net Issue Proceeds raised in excess of the amount drawn or committed under its RCF are expected to be deployed into the Company's near term pipeline of in excess of £380 million of investment opportunities, in accordance with the Company's Investment Policy. The Company has also proposed to implement a share issuance programme for up to a maximum of 300,000,000 additional Ordinary Shares (the "Share Issuance Programme") excluding the target amount of shares available under the Initial Issue. The Share Issuance Programme is being created to provide the Company with flexibility should it wish to raise further capital over the next 12 months to either repay any future drawn down funds under the RCF or to directly invest in new investment opportunities. Robert Jennings, Chairman of SEQI commented: "The fundraise announced builds on a successful period over the current financial year. The Board is encouraged by the Net Asset Value per share progression and by the quality and depth of our investment pipeline. In May last year the Board were able to increase our dividend reflecting our Net Asset Value per share at that time. If current trends continue, we will again review our target payout early in the coming financial year. This is appreciably sooner than we had previously expected."
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20/1/2020
15:27		speedsgh: Possible Equity Raise - HTTPS://www.investegate.co.uk/sequoia-econ-infra--seqi-/rns/possible-equity-raise/202001200700052323A/ SEQI, the specialist investor in economic infrastructure debt, is pleased to announce that the Company has materially deployed or committed the proceeds of its £280 million Revolving Credit Facility (the "RCF"). As at 31 December 2019, the Company had outstanding drawings on its RCF of £224 million and cash of £55.8 million, resulting in net leverage of £168.2 million. In addition, the Company had undrawn commitments on existing investments collectively valued at £92.7 million. The Investment Adviser continues to see a strong pipeline of currently available investment opportunities meeting the Company's investment criteria. To take advantage of these opportunities, the Company intends to raise additional equity capital. The proceeds from any equity raise will be used to repay debt outstanding under the RCF to enable the Investment Adviser to subsequently re-draw the funds to deploy into SEQI's pipeline of opportunities, minimising cash drag. To the extent that the Board resolves to proceed with an equity raise, any issue of shares will be at a price per share that is accretive to NAV and is expected to include a material level of pre-emption rights for the Company's existing shareholders. Any such equity raise, including its structure, timing, size and approval by the Board, will be subject to the Company's level of deployment and net leverage, prevailing market conditions and regulatory approvals.
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