CMC Markets plc announced the successful pricing of its Initial public offering, with the offer price set at 240 pence per ordinary share, giving market capitalisation of 691 million pounds.
The Offer comprises 90.6 million ordinary shares, representing 31% of CMC's issued share capital on Admission, prior to any exercise of the over-allotment option.
The transaction size of approximately 218 million pounds (prior to any exercise of the over-allotment option) includes a primary capital raise of approximately £15 million, with the balance of approximately 203 million pounds comprising the sale of secondary shares by certain of CMC's existing shareholders, including Peter and Fiona Cruddas and Goldman Sachs Strategic Investments (U.K.) Limited.
As stabilising manager, Morgan Stanley & Co. International plc has been granted an over-allotment option, exercisable no later than thirty days from today, over up to approximately 13.6 million CMC ordinary shares, representing 15% of the Offer.
Conditional dealings in CMC ordinary shares will commence on the London Stock Exchange at 8.00 am today.
Admission and the commencement of unconditional dealings in CMC ordinary shares are expected to take place at 8.00 am on 10 February 2016 under the ticker CMCX.
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