Arrow Global Group plc, a consumer debt purchaser and provider of receivables management solutions, announced it has priced initial public offering at 205 pence per ordinary share. The offer is expected to raise gross proceeds of approximately 50.0 million pounds for the company. The offer comprises 92,139,603 ordinary shares, representing 52.8 percent, of the company's ordinary shares.
Arrow Global said conditional dealings will commence on the London Stock Exchange at 8.00 a.m., October 8, under the ticker ARW. The Group expects admission to the premium listing segment of the official list, admission of the shares to trading on the main market for listed securities of the London Stock Exchange and the commencement of unconditional dealings in the ordinary shares to take place at 8.00 a.m. on 11 October 2013.
Immediately following Admission, RBS SOF will continue to hold 29.2 percent of the company's ordinary shares, which are subject to a 180 day lock-up.
by RTT Staff Writer
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