John Laing to float valued at £715.5m

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​I​nfrastructure company John Laing Group ​has ​set its offer price at 195​p per share, the bottom of its indicative range, valuing the company at ​£​715.5​m.

The company in January said it expected a price range of between 195​p​ and 245​p per share.

John Laing, which was taken private by investment firm Henderson in 2007, said the listing raised gross proceeds of about ​£​130​m, in line with earlier guidance.

Following the listing of about 35 per​ ​cent of the company, the existing shareholders will retain about 65 per​ ​cent of the issued share capital, assuming the over-allotment option is not exercised.

John Laing’s projects include the 60,000 seat New Perth Stadium in Australia and Britain’s ​£​4.7​bn Intercity Express Programme.

Conditional dealings in the shares begin​ today on the London Stock Exchange.

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