John Laing boosts flotation stake
Infrastructure group raises cornerstone investment to £64m
John Laing is to take a 40% stake in the £160m flotation of its environmental assets group, up from original plans for a 24.9% share.
The UK infrastructure company said today it had "received aggregate indications of demand of its target size of £160m" and that it will boost its role as a cornerstone investor.
The seed portfolio of the John Laing Environmental Assets will be made up of “a diversified group of environmental infrastructure assets, specifically renewable energy and waste and waste water PFI assets” purchased on or around admission.
A total of seven individual assets will be included in the float, including 44MW of wind and 25MW of solar.
The flotation is due to be wrapped up, and trading will start on the London Stock Exchange, by the end of the month.
Image: John Laing's Bilsthorpe wind farm in England (John Laing)