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John Laing offer price set at 195 pence per share

Reuters

LONDON (Reuters) - British infrastructure company John Laing Group (JLG.L) set its offer price at 195 pence per share, the bottom of its indicative range, valuing the company at 715.5 million pounds.

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

John Laing, which was taken private by investment firm Henderson (HGGH.L) in 2007, said the listing raised gross proceeds of about 130 million pounds, in line with earlier guidance.

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

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John Laing's projects include the 60,000 seat New Perth Stadium in Australia and Britain's 4.7 billion-pound Intercity Express Programme.

Conditional dealings in the shares begins at 0800 GMT on Thursday on the London Stock Exchange.

(Reporting by Sarah Young, Editing by Paul Sandle)