Investments  

Investment manager to pursue IPO next month

Investment manager to pursue IPO next month

Infrastructure and private equity investment manager Foresight Group is set to float on the London Stock Exchange next month as the company pursues funding for its acquisition strategy. 

In an update to the market this morning (January 12) Foresight confirmed it would proceed with an initial public offering in February which would see 50 per cent of its issued share capital in public hands following the floatation. 

The company said the IPO would provide additional source of capital for further acquisitions and allow all employees to own shares in Foresight.  

Shares will trade on the main market and will be offered to institutional investors.

The investment manager said 80 per cent of the offer would comprise a sale of shares by existing shareholders, with the remaining 20 per cent to see new shares issued by the company.

Foresight is expected to establish a share incentive plan through which employees will be able to acquire shares, on the basis of buy one get two free.

The company said: "Foresight Group expects that it would qualify for the LSE's Green Economy Mark on its admission to the main market.

"The Green Economy Mark recognises companies that derive 50 per cent or more of their total annual revenues from products and services that contribute to the global green economy." 

Headquartered in Guernsey and founded in 1984 the company approximately manages £6.8bn of assets and 292 infrastructure assets and 104 private equity investments on behalf of 33 investment vehicles, including VCTs and EIS.

Foresight has 12 offices across the UK, Guernsey, Italy, Spain, Australia and Luxembourg and employs 236 full-time staff.

rachel.mortimer@ft.com