4th Feb 2016 17:08
LONDON (Alliance News) - Wizard Parent LLC, which is owned by Francisco Partners, Golden Gate Capital, Thoma Bravo LLC and Elliott Management Corp, is set to sell a further 10% stake in FTSE 250 software company Micro Focus International PLC.
Wizard is looking to sell about 22 million shares in Micro Focus in an accelerated bookbuild. Credit Suisse and Numis are coordinating the placing, with Jefferies and UBS acting as bookrunners. The pricing of the placing will be disclosed to the market following the close of the book.
Assuming the placing proceeds smoothly, Wizard will be left with a 17% stake in Micro Focus. Its remaining shares would be subject to a 90-day lock-up, during which no shares can be sold, aside from some exceptions.
Wizard came to own about 40% of Micro Focus when it sold Houston, Texas-based Attachmate Inc to the company in September 2014.
Shares in Micro Focus closed up 0.3% at 1,342.91 pence on Thursday.
By Samuel Agini; [email protected]; @samuelagini
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