ThomasLloyd government-seeded trust raises less than anticipated

$150m market cap

The ThomasLloyd Energy Impact trust will list with a market capitalisation of $150m, significantly under its fundraising target of $340m.

The company received demand for 115.4m ordinary shares from a "broad range of investors" including institutional asset managers, wealth managers, banks and retail investors. Sue Inglis, chair of the board said: "We have attracted several high profile investors for the trust, including large British and European investors, as well as the UK Government via its MOBILIST initiative and have a strong base on which to build and grow the trust." A few weeks after announcing its intention to float the company expanded its IPO to retail investors and today (10 December) Inglis said the fundrai...