London Stock exchange welcomes Ascential plc
The Main Market of the London Stock Exchange today welcomed Ascential plc as it commenced unconditional dealings in its shares following its initial public offering (the "IPO").
Ascential is an international business-to-business media company with a focused portfolio of essential, market-leading products that connect and inform business professionals. The Group serves customers in more than 150 countries, and is headquartered in London, with offices in 14 countries and over 1,500 full-time equivalent employees.
Since 2011, and under the ownership of funds advised by Apax Partners LLP and Guardian Media Group, the company has transformed its business operations and optimised its product portfolio, strengthening its position as a market leader in exhibitions, festivals and digital information services.
To celebrate the occasion, Scott Forbes, Chairman, and Mandy Gradden, Chief Financial Officer, and other representatives of the Company, joined Duncan Painter, CEO, at the London Stock Exchange, to open trading in London at 08.00 GMT this morning.
Duncan Painter, Chief Executive Officer of Ascential plc said:
“I am very pleased with the response we have received from investors towards our company, our products and our IPO. This recognition stands as testament to the hard work of our people, each of whom can take pride in the industry-leading company they have helped to build. As we move forward as a listed company, our focus will not change. We will continue to put our customers first, supporting them with market leading products specifically designed to help them secure their own growth and success.”
On Tuesday 9 February, Ascential announced the pricing of its IPO and the Offer of Ordinary Shares at 200 pence per share. The market capitalisation of the company based on the offer price of 200 pence per share was £800 million. BofA Merrill Lynch and Goldman Sachs were acting as Joint Global Co-ordinators, Joint Bookrunners and Joint Sponsors, with BNP Paribas, Deutsche Bank and Numis Securities acting as Joint Bookrunners and Moelis acting as Financial Adviser to Guardian Media Group PLC