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Highlights
- Jersey-registered investment company, i(x) Net Zero PLC, plans to float on AIM in late January 2022.
- A conditional offer for subscription through PrimaryBid of new shares has been announced by the investment company.
- i(x) Net Zero intends to raise gross proceeds of around £20.0 million by the placing, subscription, and PrimaryBid offer of new ordinary shares in the market.
A Jersey-registered investment company dedicated to energy sustainability in the Built Environment, i(x) Net Zero PLC, plans to launch an IPO on the Alternative Investment Market (AIM) of the London Stock Exchange (LSE) in late January 2022. A conditional offer for subscription through PrimaryBid of new shares has been announced by the company.
i(x) Net Zero IPO plans
i(x) Net Zero intends to raise gross proceeds of around £20.0 million by the placing, subscription and PrimaryBid offer of new ordinary shares in the market. The investment firm has proposed to float on the AIM, subject to the effective completion of its fundraising.
On admission, i(x) Net Zero PLC will be the owner of i(x) investments, which is an investment firm providing opportunities for generating long-term capital returns to the company’s shareholders and investors.
The placing of shares is expected to be non-pre-emptive and conducted via an accelerated bookbuild process. Additionally, some investors plan to subscribe for new ordinary shares along with the lacing and primarybid offer. The PrimaryBid offer would not be completed if the placing and subscription aren’t completed as well. The listing price hasn’t been determined yet but would potentially be equivalent to the company’s IPO issue price.
i(x) Net Zero plans to channelise the funds raised through the IPO towards the working capital requirements of the group, to provide some of its investee companies with development and expansion capital, and to make future investments in businesses working in the field of Energy Transition and Sustainability in the Built Environment.
The financial adviser and joint broker of the listing is H&P Advisory Ltd, the nominated adviser is Shore Capital and Corporate Limited, and the joint broker is Shore Capital Stockbrokers Limited.
The announcement regarding the AIM debut was initially made on 3 December 2021 and the admission was originally intended to take place by the end of December 2021.
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About i(x) Net Zero PLC
i(x) Net Zero aims to invest in a carbon-neutral future. The investment policy of the firm is to provide its shareholders with capital appreciation in the long run, mainly by creating, funding, and collaborating with businesses dedicated to Energy Transition and Sustainability.
The company plans to make more investments in the future, explore collaboration with renewables and circular economy platforms, and potentially create a joint venture with a business that works in the field of sustainable infrastructure. As of now, the company has made investments in fields like renewable energy, biofuels, and direct air capture.
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Bottomline
i(x) Net Zero aims to deliver long-term capital growth to its investors while keeping sustainability at the heart of its business. The funds raised through the IPO will help the company in further expansion and enhance its technological and structural innovations.
The investment firm is launching an IPO amid the increasing interest in sustainable investing and growing concerns regarding climate issues. With the ESG factors gaining priority and investors becoming more environmentally conscious, the company holds great future prospects.
