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JLEN raises £55.55m

08 February 2017 07:25

John Laing Environmental Assets Group Limited has raised £55.55m through the issue of 55,000,000 new ordinary shares at 101p apiece.

The placing was significantly oversubscribed and, in light of this demand, the board has increased the size of the placing to accommodate a proportion of the additional demand.

Any placing applications at a price below the issue price have not been accepted and applications at the issue price have been scaled back in accordance with the terms of the placing.

JLEN intends to use the proceeds to fund a number of acquisitions arising from near term opportunities in the solar, wind and biomass sectors, and also to clear its revolving credit facility.

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