December 1, 2017 / 10:57 AM / 2 years ago

UPDATE 1-Greensphere Capital seeks London share listing

(Adds longer term target in fourth graph)

Nov 30 (Reuters) - Greensphere Capital Plc said on Thursday that it would seek to raise up to $500 million in an initial public offering on the London Stock Exchange.

The company intends to raise funds through an initial placing and offer for subscription of up to 500 million shares at $1.00 per share.

Greensphere was set up to manage a diversified platform of sustainable infrastructure assets, according to the company’s website.

Greensphere said dividend growth was a key aspect of the company’s strategy and it will target a dividend of 3 percent in its first financial year with the aim of reaching 6 cents per share over the longer term.

As of last week, M7 Multi-Let REIT, BGL Group IPO-BGL.L, broadcasting masts firm Arqiva IPO-ARGL.L, debt collector Cabot Credit Management and business services firm TMF Group have all pulled floats from the London Stock Exchange.

Reporting by Abinaya Vijayaraghavan in Bengaluru; Editing by Elaine Hardcastle

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