Foresight Group floats in £455m IPO

Foresight Group, the infrastructure and private equity manager, has floated on the London Stock Exchange in a £455m initial public offering. Each share was valued at 420 pence. 

Half of Foresight’s share capital will be in the hands of the public, allowing Foresight to raise funds for acquisitions, while giving employees the opportunity to become shareholders. 

Foresight aims to be included in the premium listing segment of the FCA, a step which it hopes will bolster the firm’s position to be listed on the FTSE UK index series.

Bernard Fairman, co-founder, said: “A London Stock Exchange IPO is a major milestone for Foresight Group and I would like to welcome all our new shareholders. 

“I am pleased that investors have recognised the many strengths and considerable growth opportunities across our business and that our long-standing commitment to sustainable investment has resonated so well with them.”

“Thanks to the hard work of the dedicated Foresight team over the years, we have built a strong platform for the next phase of the company’s growth and development, an exciting journey which I look forward to making with all of our stakeholders.”

The Group is headquartered in Guernsey, with 12 offices across Europe and Australia. Foresight manages £6.8bn of assets between its 236 staff.