Infrastructure investment group John Laing has announced its intention to float on the London Stock Exchange.
The group owns and manages a portfolio of infrastructure investments valued at £781m, comprising 44 PPP and renewable energy projects in 10 countries.
It also managed £965m of infrastructure assets on behalf of third parties.
The firm hopes to raise £130m through the floatation.
John Laing originally listed on the London Stock Exchange in 1953 but was taken private by fund manager Henderson Infrastructure Holdco in December 2006.
Henderson is expected to sell a portion of its shareholding as part of the initial public offering.
John Laing has announced the appointment of Jeremy Beeton, David Rough and Anne Wade as independent non-executive directors to the board, in connection with the IPO.
John Laing chairman Phil Nolan said: “John Laing has made significant progress as a private company, reshaping its business to focus purely on infrastructure activities, expanding internationally and establishing a sizeable third party fund management business.
“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.
“I believe that the group is well placed to take advantage of the opportunities that exist in its markets internationally.”
The group’s chief executive Olivier Brousse added: “The need for new infrastructure worldwide is growing fast, driven by population growth, urbanisation and climate change.
“Governments and public authorities need the private sector in order to help with financing but more importantly with delivering and managing this infrastructure.
“A listing on the London Stock Exchange will enable us to raise new funds to capture growth opportunities with a view to creating value for shareholders through both capital growth and income.”
- 1848 Founded by James Laing
- 1953 Listed on the London Stock Exchange
- 1990 First PPP investment
- 2001 Sale of construction business
- 2002 Sale of property development and house building activities
- 2003 Sale of affordable housing division
- 2006 Taken private by two funds managed by Henderson
- 2008 Sale of Chiltern Railways
- 2010 Launch of JLIF
- 2011 Entry into renewable energy project market
- 2013 Sale of facilities management business
- 2014 Launch of JLEN