John Laing Environmental Assets Group raised £55.55m through the issue of 55,000,000 new ordinary shares at 101p each.

The placing was significantly oversubscribed and, in light of this demand, the board increased the size of the placing to accommodate a proportion of additional demand.

Any placing applications at a price below the issue price were not accepted and applications at the issue price were scaled back in accordance with the terms of the placing.

JLEN intends to use the proceeds to fund a number of acquisitions arising from near term opportunities in the solar, wind and biomass sectors, and also to clear its revolving credit facility.