Page 6 - Private Equity Exits via Initial Public Offerings 2016

Date Company Sector Private Market IPO Sell down Price Aggregate Banks Under- Commission Total Private equity Private equity
equity cap size as a change sponsor written /fee estimated sponsor sponsor lock-up
sponsor(s) at IPO (£m) 1 proportion since retained structure expenses relationship + orderly market
3
(£m) of IPO (%) 2 IPO (%) stake at (including agreement periods (months
4
IPO (%) commissions (key terms) from IPO)
(£m) )
31 ConvaTec Pharma, Nordic 4,390 1,465 No sell 7.9 64.6 BofA Merrill Yes 1.25% plus 58.0 • Nordic Capital 6+0
Oct Group plc Biotech, Capital, Avista down Lynch, Gold- up to 1% can appoint 2
2016 Healthcare Capital man Sachs, discretion- directors for so
UBS, Credit ary long as hold
Suisse, 25% or more
Deutsche of voting rights
Bank, Mor- • Nordic Capital
gan Stanley, and Avista
Peel Hunt, Capital can
RBC Capital, appoint 1
Evercore director each
for so long as
hold 10% or
more of voting
rights each
AIM
26 Shield Pharma Inventaes 162.2 30.1 No sell 10.7 49.9 Liberum No 3.2% 2.4 Right to appoint 12+6
Feb Therapeu- Venture down Capital commission 1 director for
2016 tics plc Capital Corporate so long as hold
finance fee 20% or more of
in respect voting rights
of placing
of £150,000
and up to
£400,000 in
respect of
warrants
18 Blue Computer RisingStars 48.5 19.2 43.0 576.3 15.4 Investec No 4% 1.2 N/A 12+12
Mar Prism and Growth Fund, commission (Company
2016 Group plc electrical Liverpool only)
equipment Growth Fund

Private equity exits via Initial Public Offerings (IPOs)