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Hellermanntyton Group PLC Announces Intention To Launch Initial Public Offering
Hellermanntyton Group PLC announced its intention to launch an Initial Public Offering (the Offer or IPO). The Company intends to apply for admission of its ordinary shares to the premium listing segment of the Official List of the UK Financial Services Authority and to trading on the main market for listed securities of the London Stock Exchange plc (together, Admission). It is expected that the Offer will complete at the end of March 2013. The Offer will comprise an offer of new and existing shares. The gross primary proceeds from the Offer of EUR35 million will be used to provide a more flexible capital structure for the continued growth of the Company including potential bolt-on acquisitions and the continued expansion of HellermannTyton's manufacturing base which is adding an additional 40% of manufacturing floor space. The Offer will also incorporate a sale of existing shares by Doughty Hanson, providing them with the opportunity to realise part of their investment in the Company. Doughty Hanson has agreed not to sell any further ordinary shares for a period of at least 180 days from the date of Admission. In relation to the Offer, Goldman Sachs International (Goldman Sachs) is acting as Sponsor. Goldman Sachs and J.P. Morgan Securities plc (which conducts its UK investment banking activities as J.P. Morgan Cazenove, J.P. Morgan Cazenove) are acting as Joint Global Co-ordinators and Joint Bookrunners. Numis Securities Limited is acting as Lead Manager.
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