News Column

SVG Capital Publishes Results Of GBP50.0 Million Tender Offer

June 2, 2014

Samuel Agini

LONDON (Alliance News) - SVG Capital PLC Monday said it will spend GBP50.0 million on buying shares under its tender offer.

In a statement, the private equity investor said it will buy 10.4 million shares at 480 pence each under the offer, representing 4.65% of its shares in issue, and will cancel the shares.

The share buy-back is being managed by JP Morgan Cazenove.

SVG Capital's shares in issue will fall to 264.1 million from 274.6 million. Just shy of 50.7 million of the 264.1 million shares are held in treasury.

SVG Capital said 142.8 million shares were validly tendered, a figure reduced to the 10.4 million after the use of a scale-back mechanism.

In February, SVG Capital said it planned to return GBP50.0 million to shareholders through the tender offer. The offer was priced at the end of April.

SVG Capital shares were Monday quoted at 434.90 pence, down 0.10p.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Alliance News

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters