25th Sep 2015 06:11
LONDON (Alliance News) - Just Retirement Group PLC and Partnership Assurance Group PLC on Friday both announced share placings in relation to the all-share merger between the two companies.
Just Retirement, the FTSE 250-listed retirement products company, and smaller rival Partnership Assurance said the two issues will raise a total of GBP150.0 million to back their proposed merger, under which they will combine under the name JRP Group PLC.
Just Retirement said the size and pricing of its placing and open offer will be determined following an accelerated bookbuilding process, to be run by Barclays Bank PLC, Deutsche Bank AG and Nomura International.
Partnership, meanwhile, said it will issue around 40.0 million shares under the issue. Its issue will be run by JPMorgan Cazenove and Morgan Stanley.
By Sam Unsted; [email protected]; @SamUAtAlliance
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Related Shares:
JRG.L