9th Feb 2016 08:45
LONDON (Alliance News) - Ascential PLC was valued about GBP800.0 million by market capitalisation in its initial public offering, the business-to-business media company said on Tuesday.
The offer, comprising 140.0 million shares, equivalent to 35% of the company, was priced at 200 pence per share. Shares in Ascential were trading at that level on Tuesday early morning, their first day of conditional dealings on the Main Market of the London Stock Exchange.
The company raised about GBP183.2 million after underwriting costs and other fees from the offer, while the selling shareholders - Apax Partners LLP, Guardian Media Group PLC, and members of management - raised GBP80.0 million.
"I am very pleased with the response we have received from investors towards our company, our products and our IPO. This recognition stands as testament to the hard work of our people, each of whom can take pride in the industry leading company they have helped to build," Chief Executive Duncan Painter said.
"As we move forward as a listed company, our focus will not change. We will continue to put our customers first, supporting them with market leading products specifically designed to help them secure their own growth and success," Painter added.
By Samuel Agini; [email protected]; @samuelagini
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
Ascential