View more on these topics

Pearl prepares to float

Pearl Group has invited its warrant holders to make an exchange for shares in the group as it sets to float on the London Stock Exchange.

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.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm