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Crest Nicholson Holdings Ltd Announces Pricing of Its Initial Public Offering


Wednesday, 13 Feb 2013 02:00am EST 

Crest Nicholson Holdings plc announced the pricing of its initial public offering (the Offer). The offer price has been set at 220 pence per Ordinary Share (the Offer Price). Based on the Offer Price, the total market capitalization of the Company at the commencement of conditional dealings will be approximately £553 million. The Offer is expected to raise gross proceeds of approximately £224.9 million, comprising a primary component of £56.0 million and secondary sales of £168.9 million by certain existing shareholders, including Varde Investment Partners L.P. and Deutsche Bank AG, London Branch. Conditional dealings will commence on the London Stock Exchange at 8.00am today (February 13, 2013) under the ticker CRST. Admission to the premium listing segment of the Official List and to trading on the main market for listed securities of the London Stock Exchange and the commencement of unconditional dealings are expected to take place at 8.00am on February 18, 2013. At Admission the Company will have 251,427,287 Ordinary Shares in issue. 

Company Quote

362.1855
-0.6 -0.17%
8:43am EST