John Laing plc announces successful JLEN initial public offering
John Laing is delighted to note that John Laing Environmental Assets Group Limited (JLEN) has successfully closed its initial public offering of ordinary shares. JLEN’s diversified portfolio of operational environmental infrastructure projects, including six assets being sold to JLEN by John Laing, has clearly proven attractive to investors.
John Laing remains focused on building on its significant portfolio of projects in the environmental infrastructure sector in the UK and Northern Europe and looks forward to providing JLEN with further opportunities.
Notes to Editors:
John Laing will sell six operational and yielding environmental infrastructure assets to JLEN. Three of John Laing’s 16 environmental infrastructure assets that will be sold to JLEN are onshore wind projects with a total generating capacity of 44 MW, while one is a solar PV plant with a capacity of 10 MW. The two waste management assets comprise mature operating PFI contracts that are processing and recycling municipal waste at Dumfries and Galloway in Scotland and in East London for four London boroughs (Redbridge, Barking and Dagenham, Havering and Newham).
John Laing Investments Ltd has subscribed for 39.7 per cent. of the JLEN IPO and will be a cornerstone investor following the fund’s Admission to trading on the London Stock Exchange on 31 March 2014. On admission, JLEN will have a right of first offer over certain environmental infrastructure assets held by John Laing.
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