Premier AM confirms £140m IPO

Added 4th October 2016

Premier Asset Management has confirmed its IPO with existing shareholders, including Electra Partners, set to retain a controlling 54.4% of the business.

Premier AM confirms £140m IPO

The IPO on the AIM market will see the placing of 35,875,660 new and 12,381,916 existing ordinary shares at 132p each, raising gross proceeds of around £63.7m ($82.1m, €73.1m).

As reported last week, Keefe, Bruyette & Woods and Numis are acting as joint brokers, with Stifel Nicolaus the nominated adviser.

Based on the placing price, the market capitalisation of the company on admission to the market will be around £139.7m.

Queripel Partners and Electra Partners will control 33.2% and 8.1% respectively with the remaining 13.1% owned by staff. These and senior management have entered into lock-up and orderly market arrangements.

Premier said it intends to start paying dividends during the first quarter of 2017.

The UK-headquartered firm, based in Guildford, was previously listed before 2007 when Electra Partners invested £33m in support of a £57m take-private deal. As at the end of August, Premier’s AUM totalled £4.9bn.

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Gary Shepherd


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Gary joined Last Word Media in 2009, becoming editor of Portfolio Adviser a year later. Previously, he worked at Incisive Media with roles across its Professional Adviser, Investment Week, Bloomberg Money and Mortgage Solutions titles. Gary has been shortlisted for various awards, winning Headline Money Investment Writer of the Year in 2010.


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