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October 27, 2015

Equiniti outlines £495m IPO

News: Company aims to raise around £315 million.

By James Nunns

Equiniti has revealed the pricing of the Global Offer for its upcoming IPO.

The offer price has been set at £1.65 per Ordinary Share and, based on the Offer Price, the company’s total market capitalisation at commencement will be £495 million.

The company said it is raising gross proceeds of approximately £315m, which will be used to repay part of the Group’s debt and to pay for transaction, tax and other financing related to costs from the Global Offer.

In addition to this, Advent International, a private equity investor that is currently controlling the group, has agreed a separate subscription agreement. This will see it subscribe for New Ordinary Shares at the Offer Price in the amount of £75m.

The Directors will hold 1.5% of Ordinary Shares.

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