Foresight Sustainable Forestry raises £45m to help fund £77m pipeline

£45m raised

Foresight Sustainable Forestry has raised £45m in its latest fundraise, leaving the trust to rely on a revolving credit facility to fund support the remaining pipeline.

FSF proposed the offer for subscription at 107p for new ordinary shares in order to capitalise on a pipeline of 22 potential acquisitions. It had initially hoped to purchase 14 properties totalling £43.2m available exclusively to the investment trust, with a further eight worth £33.7m, and will utilise an RCF to make this happen. Despite the relative shortfall, chair of FSF Richard Davidson described the raise as "another significant milestone" for the trust. "It has been a busy first eight months for the company, having fully deployed the proceeds of the company's IPO and now unde...