John Laing confirms £130m London IPO

 
Jessica Morris
Follow Jessica
John Laing is expected to announce a £1bn float this week (Source: Getty)

Infrastructure investor John Laing has confirmed rumours it's planning to raise £130m through an initial public offering (IPO) on the London Stock Exchange (LSE).

If the float takes place soon, the group, which is owned by fund manager Henderson, will be the subject of the first major stock market flotation on the LSE this year.

The company said it wants to raise cash to fund "new investment commitments", and for "general corporate purposes."

The company also appointed Jeremy Beeton, former director-general of the government's Olympic Executive, as a non-executive director, alongside David Rough, the appointment of former deputy chairman of Xstrata. It also named Anne Wade, a former senior vice president at Capital International.

Phil Nolan, the company's chairman, said it has made "significant progress" and is focusing "purely on infrastructure activities"

A move to public ownership and raising new capital, having secured a record volume of new investment commitments over the past year, represents a natural next step for the business.
Henderson acquired John Laing for £887m back in 2006. It later span off the John Laing Infrastructure Fund in 2010 and John Laing Environmental Assets last year.

Related articles