GlobeOp IPO priced at 230 pence per share
25 July 2007 | 2296 views | 0
Source: GlobeOp Financial Services
GlobeOp Financial Services S.A. ('GlobeOp' or 'the Company'), a leading independent provider of business process outsourcing, financial technology services and analytics to the hedge fund industry and other targeted sectors of the financial services industry, today announced that on the basis of the bookbuilding process carried out by Merrill Lynch International as global co-ordinator, the Company, the selling shareholders and Merrill Lynch International have determined that 20,367,950 Shares will be offered under the Offer and that the final Offer Price, for the purposes of Offer, is 230 pence per Share.
Certain of the Selling Shareholders have, in addition, granted Merrill Lynch International an over-allotment option equal to up to 2,036,795 Shares.
The Company has applied for admission of the entire issued share capital of the Company to the Official List and to trading on the London Stock Exchange ('Admission'). Conditional dealing in the Shares is expected to commence at 8:00 am London time on 25 July 2007. Admission and commencement of unconditional dealings on the London Stock Exchange is expected to occur on 30 July 2007. CREST accounts will be credited in respect of Depositary Interests representing the Shares on the same date.
Commenting on the announcement, Hans Hufschmid, GlobeOp's chief executive, said: "We believe GlobeOp presents a compelling investment opportunity as demonstrated by our solid trading performance in the second quarter. We have continued to increase assets under administration and improve operating efficiency, and the pipeline for new client acquisitions in the second half of the year looks strong. We believe that our admission to the LSE will provide us with greater flexibility to further develop GlobeOp and we look forward to our future as a listed company."