31st Oct 2016 17:55
LONDON (Alliance News) - Windmill Holdings BV said Monday it has sold 44.8 million shares in ventilation products company Volution Group PLC in a placing to institutional investors.
Windmill Holdings is an affiliate of Towerbrook Capital Partners LP, the private equity company which floated Volution on the London Main Market in 2014.
The placing was priced at 150 pence a share, 22% of Volution's entire share capital, and raised gross sale proceeds of GBP67 million for Windmill.
"The placing was oversubscribed, with strong demand from high quality institutional investors," said Windmill, which no longer holds any shares in Volution.
Liberum Capital Ltd was the sole bookrunner for the accelerated bookbuild.
Shares in Volution Group closed up 1.8% at 167.00p Monday.
By Adam Clark; [email protected]
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