5th Oct 2015 16:20
LONDON (Alliance News) - Barclays Bank PLC Monday said it has launched an accelerated bookbuilt offering to investors of 7.4 million shares in Betfair Group PLC.
The bank said the bookbuilding process was on behalf of LE PEIGNÉ SA in respect of 4.6 million shares, and Rothschild Wealth Management (UK) Ltd acting on an agency basis for Betfair shareholders that are connected to Betfair Co-Founder Edward Wray in respect of 2.3 million shares.
Bookbuilding will commence immediately and is expected to close on Tuesday.
Barclays is acting as sole bookrunner in the placing and NM Rothschild & Sons Ltd is acting as financial adviser to LE PEIGNÉ and the Wray shareholders.
LE PEIGNÉ and the Wray shareholders have agreed to lock up those shares not sold in the placing for 90 days from the closing of the placing.
Betfair will not receive any proceeds from the placing.
Shares in Betfair closed up 1% at 3,382.69 pence on Monday.
By Karolina Kaminska; [email protected] @KarolinaAllNews
Copyright 2015 Alliance News Limited. All Rights Reserved.
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