John Laing Environmental Assets launches a Placing, Offer for Subscription and Intermediaries Offer
John Laing Environmental Assets launches a Placing, Offer for Subscription and Intermediaries Offer – John Laing Environmental Assets Group (JLEN) is targeting an issue of £50 million through the issue of new ordinary shares at a price of 102 pence per share. The issue price of 102 pence per share represents a premium of 2.4% to the last published NAV as at 30 June 2018 of 99.6 pence per share and a discount of 5.3% to the closing share price of 107.75 pence per share as at 11 September 2018.
QuotedData has today published our annual review on John Laing Environmental Assets entitled “Diversification benefits shine through” – click here to read more
The company has been building its portfolio particularly in anaerobic digestion in recent times. It has been doing this by drawing upon a revolving credit facility (RCF). See page 20 of the attached to find out more on our recent update note – click here. This has now been substantially drawn down. The raising will be used to pay the RCF down and continue with its acquisition programme. In the announcement, the company states that it is constantly looking for and finding new opportunities to further diversify its portfolio.
JLEN : John Laing Environmental Assets launches a Placing, Offer for Subscription and Intermediaries Offer