Foresight IPO

[127tolmers]

More corporate action with yet another VCT Fund Manager

https://www.investegate.co.uk/foresight ... 00045250K/

Bernard Fairman, Executive Chairman and Co-Founder of Foresight Group, said:

"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.

"As one of Europe's most established renewable energy and infrastructure investors, Foresight is extremely well-positioned to benefit from the accelerating global stimulus to the renewable energy and infrastructure markets and the huge boost it will provide to green energy investment. On the private equity side, more than three decades' experience of managing UK SMEs through economic cycles makes us one of very few companies with the network and expertise to help drive the recapitalisation of the UK regional SME sector. 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."

[UncleEbenezer]

How much are the VCTs in their overall business these days? The (much bigger) solar fund has a better reputation, and then there's non-retail-investor stuff.

Their self-image ...

"As one of Europe's most established renewable energy and infrastructure investors,

and

Foresight Group expects that it would qualify for the LSE's Green Economy Mark on its admission to the Main Market. The Green Economy Mark recognises companies that derive 50% or more of their total annual revenues from products and services that contribute to the global green economy.

Yet it was "green" investments where their VCTs came a cropper!

[127tolmers]

Uncle E, spot on about the relative size and I remember their green (or should we say red?)investments well but not with fondness.

From their RNS their VCT side is quite small. Possibly a candidate for divestment or a 3rd party approach after flotation?

As at 30 September 2020, Foresight Group had AuM of approximately £6.8 billion and managed 292 infrastructure assets and 104 private equity investments on behalf of 33 Foresight investment vehicles. Foresight Infrastructure accounted for 90.2% of the Company's AuM (Foresight Private Equity: 9.8%) and 72.6% of the £32.4 million revenue generated for the six months ended 30 September 2020 (Foresight Private Equity: 27.4%).