HellermannTyton Group Plc. announced the pricing of initial public offering of about 108.69 million shares at 195 pence per share.
The Offer comprised about 108.69 million shares, prior to any exercise of the Over-allotment Option, representing 50.5 percent of the 215.31 million shares that will be in issue at Admission.
The offer will raise gross proceeds of about 211.9 million pounds or 248.5 million euros, comprising primary sales of about 29.9 million pounds or 35.0 million euros by the company and secondary sales of about 182.1 million pounds or 213.5 million euros by Doughty Hanson and certain other shareholders.
HellermannTyton is a global manufacturer and supplier of high performance cable management solutions for fastening, identifying, insulating, protecting, organising, routing and connecting components in its Electrical, Automotive and Datacom and Other market segments.
The Group’s revenue and Adjusted EBITDA for the twelve months ended 31 December 2012 were 514.2 million euros and 100.4 million euros, respectively.
Based on the Offer Price, the total market capitalisation of HellermannTyton at the commencement of conditional dealings will be about 419.9 million pounds or 492.3 million euros.
Admission to the premium listing segment of the Official List of the UK Financial Services Authority and to trading on the main market for listed securities of the London Stock Exchange plc and the commencement of unconditional dealings are expected to take place at 8.00 am on 2 April 2013.
Immediately following Admission, Doughty Hanson will continue to hold 46.1 per cent of the Shares, prior to any exercise of the Over-allotment Option, which are subject to a 180 day lock-up.
Goldman Sachs International has been granted an over-allotment option, exercisable no later than thirty calendar days from today, by Doughty Hanson of up to 10.87 million Shares, representing up to 10 per cent of the Offer Shares.
by RTT Staff Writer
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