Page 4 - Private Equity Exits via Initial Public Offerings 2016

Private Equity Exits via

London IPOs in 2016

Date Company Sector Private Market IPO Sell down Price Aggregate Banks Under- Commission /fee Total estimated Private Private equity
equity cap size as a change sponsor written structure expenses equity sponsor sponsor lock-up
sponsor(s) at IPO (£m) 1 proportion since retained (including relationship + orderly market
3
(£m) of IPO (%) 2 IPO (%) stake at commissions agreement periods (months
4
IPO (%) (£m) (key terms) from IPO)
17 Countryside Home Oaktree 1,013 282 47.2 8.3 60.6 JPMor- Yes 1.9% (offer to 22.0 • Right to 6+0
Feb Properties Construction Capital gan, institutions) and appoint 2
2016 plc Barclays, 0.38% (offer to directors for
Numis, intermediaries) so long as
Peel Hunt plus up to 1.1% hold 25% or
discretionary more of the
voting rights
• Right to
appoint 1
director for
so long as
hold 10%
or more of
voting rights

26 Forterra plc Construction Lone Star 360 121.6 All of the - 0.3 65.0 Deutsche Yes 2% plus 21.6 • Right to 6+0
April and shares Bank, up to 1% appoint 2
2016 industrials offered in Credit discretionary directors for
the IPO Suisse, so long as
were sold Citigroup hold 20%
by the pri- or more of
vate equity voting rights
sponsor(s) • Right to
appoint 1
director for
so long as
hold 10% of
voting rights

Private equity exits via Initial Public Offerings (IPOs)