7th Nov 2014 09:04
LONDON (Alliance News) - Fevertree Drinks PLC Friday saw its shares rise well above its placing price as it started trading on AIM.
The supplier of premium carbonated mixers for spirits on Tuesday priced its initial public offering on London's AIM of 69.6 million new and existing shares at 134 pence per share. It had an initial market capitalisation of about GBP154.4 million at the placing price.
The placing raised GBP93.4 million, of which GBP4 million is for the company and about GBP89.3 million for selling shareholders, comprised of funds controlled by LDC (Managers) Ltd, managers and directors, among others.
The shares were trading at 170 pence early Friday as dealings got underway on AIM.
By Steve McGrath; [email protected]; @stevemcgrath1
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