TIDMIPX
RNS Number : 2251B
Impax Group PLC
22 October 2009
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For immediate release
22 October 2009
Impax Group PLC
Impax Asset Management Group plc announces successful IPO of Impax Asian
Environmental Markets plc with GBP104.5m of gross proceeds
Impax Asset Management Group plc1 (the "Company"), the specialist environmental
investment manager, is pleased to announce today that Impax Asian Environmental
Markets plc ('the Fund') has raised gross proceeds of GBP104.5m in a Placing and
Offer for Subscription. The Fund's investment manager is Impax Asset Management
Limited, the Company's trading subsidiary.
The Fund is a new closed-ended investment trust formed to enable shareholders to
benefit from the rapid and sustained growth anticipated from companies active in
the environmental sector that are based in the Asia-Pacific region, particularly
China, Japan, India, South Korea, Malaysia, Philippines, Thailand, Taiwan,
Australia and New Zealand.
This successful IPO adds further to the Company's assets under management, which
were c. GBP1.25 billion as of 30 September 2009 and have subsequently increased
through a new mandate from a European institutional investor to manage up to
EUR150m.
Ian Simm, Chief Executive Officer of Impax, added:
"We are delighted by the positive response Impax Asian Environmental Markets plc
has received from investors. The successful IPO is further evidence of investor
interest in environmental markets remaining high. With a strong track record, a
highly qualified and committed investment team and powerful distribution
partners, Impax is well positioned for further growth."
1 The name change from Impax Group plc to Impax Asset Management Group plc was
approved by shareholders and is awaiting approval from Companies House
Ends
Enquiries:
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| Impax Asset Management Group | |
| plc1 | |
+----------------------------------+----------------------------------+
| Ian Simm, Chief Executive | 0207434 1122 |
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| | |
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| Noble & Company Limited | 020 7763 2200 |
+----------------------------------+----------------------------------+
| John Riddell, Director | |
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| | |
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| Penrose Financial | |
+----------------------------------+----------------------------------+
| Gay Collins | 020 7786 4882gayc@penrose.co.uk |
+----------------------------------+----------------------------------+
| Shona Prendergast | 020 7786 |
| | 4884shonap@penrose.co.uk |
+----------------------------------+----------------------------------+
| Clare Milton | 020 7786 |
| | 4874clarem@penrose.co.uk |
+----------------------------------+----------------------------------+
| | |
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Notes to editors
Impax Asset Management is a leading specialist investment manager dedicated to
the environmental sector. Founded in 1994, Impax now manages a range of closed
end funds, open ended funds and segregated accounts on behalf of institutional
and private investors.
Impax has a track record of delivering excellent returns across long only,
private equity and hedge fund strategies. Key investment team members have been
working together at Impax for over a decade and have spent the majority of their
careers in the environmental sector.
Impax manages a range of specialist own brand and white label funds. Impax
Environmental Markets plc (IEM) is the UK's largest environmental markets fund
and is in the FTSE 250 index.
In 2007, Impax and FTSE established a partnership to develop and manage the
Environmental Markets Index Series. The indices in the series are derived from a
database managed by Impax.
Impax is a signatory to the UN Principles of Responsible Investment (UNPRI) and
a member of the Institutional Investors Group on Climate Change (IIGCC) and the
Investor Network on Climate Risk (INCR).
Impax has an award winning track record and most recently won the 2009 Financial
News Award for Excellence in Institutional Asset Management as Sustainable
Investment Manager of the Year.
This information is provided by RNS
The company news service from the London Stock Exchange
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