Foresight Sustainable Forestry seeks to raise £76.8m

£73m in potential acquisitions

The Foresight Sustainable Forestry Company (FSF) is proposing an offer for subscription for new ordinary shares at 107p in order to capitalise on its growing pipeline of potential acquisitions.

The investment company is seeking to raise £76.8m for 22 UK forestry and afforestation assets. The company said 14 properties, totalling 6,500 hectares and worth £43.2m of deployment opportunity are available to FSF under exclusivity. Another eight properties, which cover over 3,000 hectares and worth £33.7m in deployment opportunity, are under an 'exclusive option to buy agreement' the company has in place with the Foresight Inheritance Tax fund , which is valid until the end of this year. In total, the pipeline is split into 46% afforestation, 31% forestry and the final 23% in mi...