Page 9 - Private Equity Exits via Initial Public Offerings 2016

Date Company Sector Private Market IPO Sell down Price Aggregate Banks Under- Commission /fee Total Private equity Private equity
equity sponsor(s) cap size as a change sponsor written structure estimated sponsor sponsor lock-up
at IPO (£m) 1 propor- since retained expenses relationship + orderly market
(£m) tion of IPO stake at (including agreement periods (months
4
3
IPO (%) 2 (%) IPO (%) commissions (key terms) from IPO)
(£m)
14 Time Out Media Oakley Capital 195 82.2 17.9 - 7.0 53.2 Liberum Yes Undisclosed 6.8 • Right to appoint 7 days from
June Group plc Capital corporate 2 directors for so publication of
2016 finance fee and long as hold 20% or 2016 accounts
commission more of voting rights + 12
• Right to appoint 1
director for so long
as holder 10% or
more of voting rights
5 Franchise Retailer Netcap 15.6 3.5 No sell 104.5 6.4 Allenby No 5% commission 0.6 N/A 12+12
Aug Brands plc down Capital, plus £130,000
2016 Dowgate corporate finance
Capital fee payable to
Allenby Capital
and fee of £25,000
payable to
Dowgate Capital
24 LoopUp Telecomm Adara 40.8 7.5 No sell 16.0 19.7 Panmure No Undisclosed 1.0 N/A 12+12
Aug Group plc entures down Gordon aggregate fee
2016
7 Premier Financial Electra, 139.7 60.6 19.9 7.6 49.2 Stifel, Yes Undisclosed 3.1 N/A 6+6
Oct Asset Man- Queripel Numis commission
2016 agement Partners
Group plc
16 FreeAgent Computer Opus Incertum, 34.1 8.0 18.8 24.4 35.7 N+1 No Undisclosed 0.8 N/A 12+6
Nov Holdings and IRIS Group, Singer commission and
2016 plc electrical Local Globe corporate
equip- IV, Innovation finance fee
ment Group Investors,
RJ Beteiligungs-
gesellschaft
MBH

www.dwf.law