John Laing Boosts Stake in Environment Fund to Meet IPO Target
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John Laing Plc, a U.K. infrastructure company, said it will take a bigger share of the 160 million-pound ($254 million) environmental fund it’s seeking to list and investor commitments now meet that target.
Laing intends to subscribe to as much as 40 percent of the issue compared with less than 30 percent before, it said in a statement today. Due to this increase, as well as a cut in the investment adviser base fee, the fund needs to release a supplementary prospectus that delays the issue close by a week.