Page 3 - Private Equity Exits via Initial Public Offerings 2016
P. 3
Private Equity Exits via
London IPOs in 2016
Date Company Sector Private Market IPO Sell down Price Aggregate Banks Under- Commission /fee Total Private Private equity
equity cap size as a change sponsor written structure estimated equity sponsor lock-up
sponsor(s) at IPO (£m) 1 proportion since retained expenses sponsor + orderly market
3
(£m) of IPO (%) 2 IPO (%) stake at (including relationship periods (months
4
IPO (%) commissions agreement from IPO)
(£m) (key terms)
MAIN MARKET
10 CMC Financial Goldman 691 199.9 43.66 - 49.7 4.9 Goldman Yes 1.75% to 17.5 N/A 6+0
Feb Markets Sachs Sachs, Goldman Sachs
2016 plc Strategic Morgan & Morgan Stanley
Stanley, plus up to 1.25%
RBC discretionary
2.5% to
Goldman Sachs
and Morgan
Stanley payable
by employee
shareholders
in respect
of employee
shares sold
1.5% to RBC
plus up to 1.5%
discretionary
12 Ascential Media Eden (Apax) 800 263.2 17.4 39.5 38.9 BofA Yes 1.5% plus 16.7 (selling Right to 6+0
Feb plc Merrill up to 1.25% share- appoint 1
2016 Lynch, discretionary holders’ director
Goldman fees not and 1
Sachs, disclosed) observer to
BNP committee
Paribas, meetings
Deutsche so long as
Bank, hold 15%
Numis or more of
voting rights
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