18th Mar 2015 09:40
LONDON (Alliance News) - Asset and energy support services company Lakehouse PLC on Wednesday set the pricing for its initial public offering, as Revolution Bars Group PLC started open trading on the London Main Market.
Lakehouse is planning to issue 67.4 million shares at 89 pence per share, with the offer to be split evenly between the issue of new shares and the sale of shares by existing shareholders.
The IPO will raise a total of GBP60 million for the company. On admission, it will have 157.5 million shares in issue, giving it a market capitalisation of GBP140.2 million based on the offer price.
Peel Hunt will be the sole bookrunner on the flotation. The shares are set to be admitted to the market on March 23.
Meanwhile, Revolution Bars started open trading on the Main Market on Wednesday, having started conditional dealings on Friday.
Shares in the company were down 1.4% to 190.8 pence on Wednesday and are down 4.8% from the 200 pence issue price on its IPO.
By Sam Unsted; [email protected]; @SamUAtAlliance
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