12th Sep 2018 10:49
LONDON (Alliance News) - John Laing Environmental Assets Group Ltd said Wednesday it plans to raise GBP50 million through a share placing, subscription and intermediaries offer at an issue price of 102 pence per share.
The share issue price reflects a 5.3% discount to the 107.75 pence per share closing share price on Tuesday. Shares in the environmental infrastructure fund were down 2.4% at 105.20p on Wednesday.
The company is issuing new shares under its previously announced share issuance programme for up to 200 million shares. It also said it reserves the right to increase the share issue size, subject to investor demand.
Proceeds from the fundraising will go towards paying down the company's revolving credit facility used to fund three anaerobic digestion projects in August.
The share placing will close on October 18, while the subscription and intermediaries offer will close on October 17.
Related Shares:
JLEN.L