“LGI has made the decision to temporarily delay its planned IPO because of the current uncertainty in capital markets,” the board said in a letter to shareholders.
The company also said the federal government’s announcement about changes to the Emissions Reduction Fund had added to investor uncertainty, however it was not expected to have a material effect on LGI’s forecast FY22 earnings.Energy Minister Angus Taylor made his ERF announcement on March 4, derailing LGI’s plans to lodge a prospectus for its IPO on March 7.
LGI Ltd’s board is expected to re-consider an IPO and listing should markets settle. Bell Potter and Morgans were lead managers.
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