Foresight Sustainable Forestry Co PLC - London-based forestry investment trust, managed by private equity firm Foresight Group LLP - Raises £45 million gross in placing of 38.0 million shares, and subscription offer of 4.1 million shares, at 107 pence per share. Net proceeds will be used to acquire further forestry and afforestation assets within its pipeline. The firm has fully deployed £130 million in proceeds from its initial public offering eight months ago.

‘This fundraising represents another significant milestone for Foresight Sustainable Forestry. It has been a busy first eight months for the company, having fully deployed the proceeds of the company’s IPO and now undertaken a further issuance of new shares,’ commented Chair Richard Davidson.

Infrastructure and private equity investment manager Foresight Group Holdings Ltd hailed the fundraise by FSF as a ‘significant endorsement’ of its decision to launch the environmentally-focused fund.

FSF current stock price: 108.00 pence, up 0.9% on Friday

12-month change: up 10%

Copyright 2022 Alliance News Limited. All Rights Reserved.