construction company John Laing is not seeking a flotation, its chief executive said yesterday, denying a report it was eying a £600m London Stock Exchange listing by end of 2010.
“The company is not being floated, I can tell you categorically,” Adrian Ewer said, after describing the report as “total rubbish”.
Separately, an article published last week by trade magazine Infrastructure Journal said John Laing, which is owned by fund manager Henderson Group, was looking to tap public equity markets via a float of an infrastructure fund.
“The company first thought about this notion in 2005 and has been thinking about it ever since. It is something that at some point in time the company may do,” Ewer said.
“That is just part of the way in which we might recycle capital to invest in new infrastructure projects,” Ewer said, declining to give detail on the sum the company would seek to raise.