London Stock Exchange today welcomed John Laing Group plc
London Stock Exchange today welcomed John Laing Group plc (the “Company”) to open conditional dealings in the Company’s shares following its successful IPO.
John Laing is an international originator, active investor and manager of infrastructure projects. Its business is focused on major transport, social and environmental infrastructure projects awarded under governmental public-private partnership ("PPP") programmes, and renewable energy projects, across a range of international markets.
John Laing raised gross primary proceeds of £130 million, which will be used predominantly to fund new investment commitments. In addition, gross proceeds of approximately £118.9 million have been raised by Henderson Infrastructure Holdco (Jersey) Limited, assuming no exercise of the over-allotment option. The offer price was set at 195 pence per share resulting in a market capitalisation of £715.5 million at the commencement of conditional dealings.
John Laing will be admitted to the premium listing segment of the Official List and to trading on the Main Market, and the commencement of unconditional dealings is expected to take place at 8.00 a.m. on 17 February 2015 under the ticker JLG.
Commenting on today’s announcement, Olivier Brousse, Chief Executive Officer of John Laing said: "John Laing is delighted to rejoin the London Stock Exchange, one of the world’s premier capital markets. John Laing is one of the world’s leaders in delivering infrastructure projects with a strong international pipeline, and the LSE is the right equity market to underpin the next stage of the Group’s growth."
Barclays Bank PLC and HSBC Bank plc acted as Joint Sponsors, Joint Global Co-ordinators and Joint Bookrunners. RBC Europe Limited acted as Lead Manager. Greenhill & Co. International LLP acted as Financial Adviser to the Company and the Selling Shareholder and Freshfields Bruckhaus Deringer LLP was acting as legal adviser to the Company and the Selling Shareholder. Maitland was financial PR adviser.