Report
Livio Luyten

TINC TINC announces rights issue for up to €113.2m

This morning, TINC launched a rights issue of up to €113.2m at a subscription price of €9.34 with a ratio of 1 for 3. This represents a 10.11% discount to the TERP of €10.39. The proceeds will be mainly used to fund its €143.2m in committed investments and work towards the ambition to double the portfolio by 2030. Infravest has committed up to €50m in the offering. They currently hold 21.32% of TINC. The rights subscription and trading period runs from 5 to 17 June 2025, with settlement and trading of new shares expected on 20 June. The new shares will carry dividend rights for FY25. TINC and Infravest are subject to a 180-day lock-up. We calculated a discount of the rights issue subscription price to the NAV of 36.1% (post capital increase). We have moved our rating to suspended as KBC Securities acts as Joint Global Coordinator.
Underlying
TINC Comm. VA

TINC Comm VA. Tinc Comm VA, also known as TINC, is a Belgium-based company focusing on investments in Infrastructure Asset Companies holding capitalintensive Infrastructure Assets providing services and generating cash flows of a long term sustainable nature. The Initial Investment Portfolio of the Company includes investments in over 10 Infrastructure Asset Companies holding underlying Infrastructure Assets in public private partnerships (PPP), energy and real assets in Belgium and the Netherlands, including Strorm and Brabo 1, among others. It operates through Storm Holding 4 NV.

Provider
KBC Securities
KBC Securities

We are a financial services provider for several types of professional clients, each with distinct needs.

 

Analysts
Livio Luyten

Other Reports on these Companies
Other Reports from KBC Securities
Hilde Van Boxstael ... (+4)
  • Hilde Van Boxstael
  • Lynn Hautekeete
  • Thibault Leneeuw
  • Thomas Couvreur

ResearchPool Subscriptions

Get the most out of your insights

Get in touch