Law360, New York (March 27, 2015, 3:39 PM EDT) -- Private equity-backed Sanne Group PLC, a growth-minded provider of outsourced corporate and fund administration services for real estate and other institutional clients, announced Friday it plans to raise £141.6 million ($210.9 million) through an initial public offering on the London Stock Exchange.
Jersey, U.K.-based Sanne plans to issue 70.8 million ordinary shares at £2 each, of which the company is netting £28 million in proceeds for debt reduction, working capital and general corporate purposes.
Selling shareholders will receive the remaining £113.6 million, including Inflexion Private Equity, a U.K.
midmarket-focused firm that said it is generating a return of 3.7 times its...
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