21st Apr 2016 07:03
LONDON (Alliance News) - Environmental infrastructure investor John Laing Environmental Assets Group Ltd on Thursday proposed raising GBP65.0 million through a share placing to back its acquisition plans.
The company said it has now drawn down the majority of its revolving credit facility and will therefore look to raise the new funding, through its existing placing programme.
It intends to use the proceeds from the placing to repay its facility and provide capital for further acquisitions.
The new issue will be priced at a modest premium to the group's estimated net asset value at the end of March, it said.
The placing will close on May 26, with the results to be announced the following day.
By Sam Unsted; [email protected]; @SamUAtAlliance
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