John Laing Environmental Assets (JLEN) has announced that it is proposing to raise £25m by way of an initial placing under its placing programme, the prospectus for which was published on 16 December 2016. It intends to use the net proceeds to fund a near term pipeline of opportunities across the Solar, Wind and Biomass sectors in the UK from third party vendors.
JLEN says that the Placing will be made to qualified investors through Winterflood Securities Limited and that the issue price, together with the number of new ordinary shares to be issued, will be announced shortly after the close of the book building process. The issue price will be at a premium to JLEN’s latest published Net Asset Value per share that is at least sufficient to cover the costs of the placing. JLEN says that the bookbuild is expected to close at 2:00pm on 7 February 2017.
John Laing Environmental Assets proposes £25m fund raise : JLEN