Foresight Group has proceeded with its previously announced IPO on the London Stock Exchange, pricing it at £4.2 ($5.7) per share.
The company has issued 8.3 million shares, raising £35 million ($48 million), and shareholders have issued 45.7 million shares, raising £192 million ($262 million). This equals a total offer size of £227 million ($262 million) and represents 50 percent of Foresight Group’s issued share capital, according to the company.
Based on the offer price, Foresight’s market capitalization was to be £455 million ($621 million) at the commencement of dealings, which began Jan. 4. Following admission to the premium listing segment of the official list of the FCA, the issued share capital of the company will be roughly 108.3 million shares.
“I am pleased that investors have recognized the many strengths and considerable growth opportunities across our