R&Q places $125mn of shares 40% below Brickell offer price
  • X
  • LinkedIn
  • Email
  • Show more sharing options
  • Copy Link URLCopied!
  • Print
  • X
  • LinkedIn
  • Email
© 2024 Insider International Limited, company number 15236286, 4 Bouverie Street, London, EC4Y 8AX. Part of the Delinian Group. All rights reserved.

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement
Cookies Settings

R&Q places $125mn of shares 40% below Brickell offer price

Samuel Casey
14 June 2022
  • X
  • LinkedIn
  • Email
  • Show more sharing options
  • Copy Link URLCopied!
  • Print
  • X
  • LinkedIn
  • Email
DONT USE OLD DONT USE

Randall & Quilter Investment Holdings (R&Q) has secured its needed $125mn in funding in a non-preemptive share placing, placing 97.8 million shares with institutional investors at a price of 105 pence, and a further 1.1 million shares with directors and senior management.

The 105 pence price tag represents a 14.1% premium on yesterday’s closing price, although it is 40% below the 175 pence Brickell had initially agreed to pay to take the firm private.

The

Enter your e-mail to claim a free trial:

Uncover exclusive insights tailored for insurance leaders

    • Stay Informed: Access exclusive industry insights
    • Gain a competitive advantage: Hear first about tactical developments
    • Make better decisions: Understand market dynamics in crucial lines of business
Take a free trial Already a subscriber? Login now

Topics

NewsM&AR&Q
sam casey 2024 ii red 2.png
Samuel Casey
Senior Reporter
Contact
Gift this article