News Column

Spire Healthcare set for float at bottom end of price range

July 17, 2014

MICHAEL BIRD



PRIVATE health firm Spire Healthcare yesterday opted for the lower end of its previously published share price range for its imminent stock market float in London.


One week ago, Spire announced a wide spread for the price range - from 210p to 300p, but is now looking at 210p to 220p, according to people closely involved with the preparations, who spoke to City A.M. The share price gives the firm an overall valuation of somewhere between 842m and 867m.


The company has previously said it hoped to raise 315m by issuing 45 per cent of shares.


The final price range for the group's initial public offering (IPO) should be announced by tomorrow, according to an earlier statement issued by the business.


Even if the business floated at the very bottom end of the reported price range, the suggested valuation would make it large enough to be in the FTSE 250 index.


Spire's chief executive, Rob Roger, has previously said that the company is happy with a strong level of interest from investors.


Spire has fared better than several companies attempting market debuts Fat Face, the retail chain, and Shelf Drilling, an offshore rig operator, recently abandoned their listings.


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



Source: City A.M. (UK)


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