24th Jun 2021 12:45
Rathbone Brothers PLC - wealth manager - Raises GBP50 million via placing of 2.8 million shares at 1,760 pence each in accelerated bookbuild. RBC Europe Ltd and Peel Hunt LLP acted as joint bookrunners in connection with the placing. The placing price represents a discount of 7.9% to Wednesday's closing price.
Late Wednesday, firm proposed the placing as it announced the acquisition of Saunderson House. Total consideration of GBP150.0 million will be payable to funds advised by Epiris LLP and the management and employees of Saunderson House. Saunderson is a professional services-focused financial planning business in the UK with GBP4.7 billion of funds under management.
Current stock price: 1,866.00 pence, down 2.3% on Thursday
Year-to-date change: up 21%
By Lucy Heming;Â [email protected]
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