Page 12 - IPO Analysis - Private Equity Exits 2017_Final

Private equity exits via IPO in

2017

Private Equity
IPO Sell Down as a Price Aggregate Sponsor lock-up
Private Equity Market Cap Size proportion of Change Sponsor Total Estimated Private Equity Sponsor + Orderly
Date Company Sector Banks Underwritten Commission / Fee Structure Expenses (incl. Relationship Agreement
Sponsor(s) at IPO (£m) (£M) IPO (%) Since IPO Retained Stake Commissions) (£m) (Key Terms) Market Periods
(%) at IPO (%) (Months from
IPO)
FFI Holdings Travel & leisure Golden Sun Emerging 235.6 54.1 23.06 -49.0 60.3 Liberum No Placing commissions and fees 4.4 - Right to appoint a 6+6
30.06.17
PLC Fund Capital not disclosed nominated director for so
long as hold 20% of the
issued share capital
- Terminates if shares
cease to trade on AIM or if
hold less than 15% of the
issued share capital
GYG plc Automobiles & Londsdale Capital 46.6 25.0 No sell down 37.0 19.32 Zeus Capital No - Placing commissions and fees 3.4 - Transactions conducted 12+12
05.07.17
transportation Partners not disclosed on arm's length terms
- Nomad and broker fee of - Terminates once hold
£75,000 less than 9,000,000
shares in aggregate
Arena Events Travel & leisure MML Capital Partners 63.1 55.43 8.9 11.0 0 Cenkos No - Corporate finance fee of 4.6 N/A N/A
25.07.17
Group plc Securities £300,000
- Commission of 4% payable by
the company and the selling
shareholders
- Nomad and broker fee of
£65,000 per annum

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