Money will be used to support Laing’s activities in the PFI/PPP sector.

John Laing is aiming to raise nearly £100m through a new rights issue.

The company said that the money raised would be used to help expand Laing's activities in PFI/PPP projects in the UK and overseas.

Laing will issue up to 50,049,585 new ordinary shares at 200p per share and will aim to raise about £95.3m.

Chief executive Andy Friend said: “There are significant opportunities for John Laing as a result of the continuing growth of PFI/PPP markets in the UK and across the OECD.”

Friend said that the rights issue would enable Laing to retain portfolio investments that are appreciating in value and allow the company to bid in new markets and established sectors such as health, education and roads.

Laing will seek approval from shareholders for the rights issue at an extraordinary general meeting on 24 June 2005.