Asset Manager Foresight Group Mulls London Main Market Listing

(Alliance News) - Foresight Group Holdings Ltd said Tuesday it is considering applying to float on the Main Market of the London Stock Exchange.

Foresight Group is a Guernsey-headquartered infrastructure and private equity investment manager that operates through two segments: Foresight Infrastructure, which is focused on renewable energy and infrastructure, and Foresight Private Equity.

Foresight Group has appointed Jefferies International Ltd as joint global coordinator and bookrunner, and Numis Securities Ltd as joint global coordinator, bookrunner and sole sponsor in case it proceeds with an initial public offering.

Foresight already has several fund and trusts under its management that are listed in London, including Foresight Solar Fund Ltd, Foresight Solar & Technology VCT PLC, Foresight VCT PLC and Foresight VCT 4 PLC.

As at September 30, Foresight Group had assets under management of GBP6.8 billion, as well as managed 292 infrastructure assets and 104 private equity investments on behalf of 33 Foresight investment vehicles.

For the six month period, core earnings before interest, tax, depreciation and amortisation was GBP10.7 million, on revenue of GBP32.4 million.

"Foresight's significant recent growth and consistently strong performance over many years, together with the many highly attractive opportunities that are opening up across our markets, make listing the company on the London Stock Exchange the logical next step," said Executive Chair Bernard Fairman.

"Additionally, responsible investing has always been at the core of Foresight's strategy, and we are well placed to continue to satisfy the strong investor demand for ESG investment strategies. An IPO of Foresight will support our growth strategy which involves developing our existing platform, making further acquisitions, and expanding and diversifying both geographically and into new areas of sustainable investment," Fairman added.

ESG refers to environmental, social, and governance criteria for investment decisions.

By Dayo Laniyan; dayolaniyan@alliancenews.com

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