John Laing stock exchange listing move

The John Laing Group has confirmed its intention to launch an initial public offering (IPO) and is applying to list shares in the company on the London Stock Exchange.

It is forecasting a sum of £130 million (€169 million) to be raised from the move, which it will re-invest in future ventures.

According to the global infrastructure investment specialist, its portfolio is valued at £781 million (€1.01 billion). This includes a total of 44 projects in public-private partnerships ventures and renewable energy schemes. It also manages £965 million (€1.25 billion) of third party assets.

The company has achieved a number of major projects in recent years, including a UK contract to deliver express rail services on the Great Western Main Line and also the East Coast Main Line.

It also gained a US rail upgrade scheme in Denver, as well as leading the development of a 35-year contract to design and manage the A1 motorway in Poland.

Underlining its credentials, the company said that between 2007 and 2014, it had made more than £800 million (€1.04 billion) of investments into 48 projects. Linked to its IPO, the company has appointed Jeremy Beeton, David Rough and Anne Wade as independent non-executive directors to its board.

Phil Nolan, chairman of John Laing, 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.

He added, “I believe our group is well placed to take advantage of the opportunities that exist in its markets internationally."

Olivier Brousse, CEO of John Laing, added that an increase in demand for global infrastructure had required greater input from private companies such as theirs – which formed the cornerstone of its development.