The group, which was sold to Dutch acquisition vehicle Liberty International in June, has undergone a huge debt restructure and is now preparing to float by offering 33 million warrants for shares. Each new share will be worth around 5 warrants.
Pearl says: “These actions represent an important step towards being able to meet the strategic goal to achieve simplification of its capital structure.”
During the summer, Liberty injected as much as £510m into Pearl and restructured its balance sheet to reduce its liabilities by around £560m.
The exchange invitation ends on December 30. The group is currently listed on the Dutch exchange but will move over to London at some point in 2010.