SYDNEY, April 28 Australian facilities
management company Spotless Group, owned by private equity firm
Pacific Equity Partners (PEP), said on Monday it plans to raise
around A$1 billion ($930 million) in an initial public offering
Spotless said it will offer new and existing shares at an
offer price between A$1.60 and A$1.85 in a back-end bookbuild,
scheduled to take place on May 20-21.
Shares offered through the IPO will represent around 51
percent on the shares on issue. PEP, the biggest private equity
firm based in Australia and New Zealand, will retain around 49
percent of the company.
($1 = 1.0774 Australian Dollars)
(Reporting By Jane Wardell; Editing by Paul Tait)