5th Feb 2016 07:54
LONDON (Alliance News) - Wizard Parent LLC, which is owned by Francisco Partners, Golden Gate Capital, Thoma Bravo LLC and Elliott Management Corp, Friday said it upsized the number of shares it was selling in FTSE 250 software company Micro Focus International PLC after the placing was met with strong demand from investors.
Wizard raised GBP357.0 million from the placing, which took place overnight and saw the sale of 28 million shares, versus the original expectation of 22 million shares, at 1,275 pence per share.
The shareholder had originally been looking to keep a stake of 17% in the company, but said on Friday the increase in the number of shares placed will leave it with a 13.8% stake in the company.
Wizard came to own about 40% of Micro Focus when it sold Houston, Texas-based Attachmate Inc to the company in September 2014.
Credit Suisse and Numis coordinated the placing, with Jefferies and UBS acting as bookrunners.
By Hannah Boland; [email protected]; @Hannaheboland
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