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InfraStrata completes fundraising for acquisition of Harland and Wolff

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LNG Industry,


InfraStrata has announced that it has successfully completed the Bookbuild for its acquisition of Harland and Wolff.

Highlights:

  • The placing has raised £6 million through the placing of Ordinary Shares through both institutional and retail investors.
  • The acquisition is conditional upon approval by Shareholders at the company’s General Meeting, which is to take place on the 29 of November.

John Wood, CEO of InfraStrata, comments:

“We are very pleased with the result of the placing bookbuild as this will provides us with the necessary capital to complete the acquisition of the Harland and Wolff assets.”

“The company is now on the cusp of a transformational change. Along with the cost savings that will accrue to the Islandmagee gas storage project, this multi-purpose fabrication facility in the heart of Belfast is expected to provide multiple revenue streams. Upon completion of the acquisition, the company will seek to enter into contracts as soon as possible with a view to kick-starting revenue generation, which will be a significant milestone in the company’s history. We are bullish about the acquisition as it provides immediate and near-term revenue generating opportunities as well as significantly increasing the value of the company’s balance sheet.”

Read the article online at: https://www.lngindustry.com/floating-lng/11112019/infrastrata-completes-fundraising-for-acquisition-of-harland-and-wolff/

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