Jupiter announces plans to float next month
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Jupiter has announced its plans to list its shares publicly on the London Stock Exchange next month, which could value the group at up to £1bn.
The firm is hoping the listing will raise up to £220m from new shares and the sale of some shares by staff. The float could see more than £0.5bn go to the group’s staff, including chief executive Edward Bonham Carter and stellar managers Philip Gibbs, Tony Nutt and John Chatfeild Roberts, according to the Financial Times.
US private equity outfit TA Associates is expected to retain its 20 per cent stake following the float.
In March, Jupiter sought an amendment to its £375m loan documents, paving the way for a possible initial public offering.
Commenting on today’s announcement, Jupiter chief executive Edward Bonham Carter (pictured) says: “We have started 2010 in great shape with an encouraging outlook for our business and excellent opportunities for further growth, both in our core UK market and internationally.”
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Readers' comments (1)
Paul Holmes | 18 May 2010 1:40 pm
Hmmmm. Such is the way of things......
Let's hope once they have their millions we can still hold Jupiter funds in high esteem 5 years hence - watch closely ( never ever forget the huge implosion of Duffield et al at New Star ) and bail out at the first sign of Chatfield Roberts, Philip Gibbs or Ben Whitmore buying Islands and sunning themselves.......
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