High take-up for Informa
Oct (HKSE: 3366-OL.HK - news) 28 (IFR) - Events and publishing group Informa (Frankfurt: A114PL - news) reported take-up of 98.4% for its £715m rights issue last Wednesday, with acceptances for 159.65m out of the 162.23m offered on a 1-for-4 basis at 441p.
A rump of 2.58m shares was sold in an accelerated bookbuild on Wednesday morning, priced at 670p - flat to where the stock opened that morning. The shares closed the day at 665.5p.
Barclays (LSE: BARC.L - news) and Bank of America Merrill Lynch were joint global coordinators, and joint bookrunners with HSBC. BNP Paribas (LSE: 0HB5.L - news) , Commerzbank (Xetra: CBK100 - news) and Santander were co-lead managers. Barclays, Centerview Partners, Morgan Stanley (Xetra: 885836 - news) and Rothschild were joint financial advisers.
Proceeds will back a £1.18bn purchase of US peer Penton. (This story will appear in the October 29 issue of IFR magazine; Reporting by Robert Venes)