Share Name Share Symbol Market Type Share ISIN Share Description
Equiniti Group LSE:EQN London Ordinary Share GB00BYWWHR75 ORD 0.1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -3.40p -1.16% 290.60p 291.10p 292.10p 297.00p 290.70p 290.70p 99,295 16:35:15
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 382.6 28.5 10.2 28.5 872.05

Equiniti Details Rights Issue Terms to Fund Acquisition

12/09/2017 9:25am

Dow Jones News


Equiniti (LSE:EQN)
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By Carlo Martuscelli

 

Equiniti Group PLC (EQN.LN) on Tuesday set out the terms of a 122 million pound ($161 million) rights issue to fund its previously announced acquisition of Wells Fargo Share Registration & Services.

The software provider is offering 64.3 million new shares at 190 pence each to shareholders on a 3-for-14 basis, giving shareholders the opportunity to buy three for every 14 held. The issue price is a 36% discount to Monday's closing share price of 297.1 pence.

Equiniti announced in July that it was buying Wells Fargo Share Registration & Services for $277 million and would partly fund the deal with a rights issue. The rest of the money will be funded through GBP120 million of debt facilities.

 

Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com

 

(END) Dow Jones Newswires

September 12, 2017 04:10 ET (08:10 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.

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