UK's Jupiter To Offer $322M In IPO

Law360, New York (June 2, 2010, 3:27 PM EDT) -- British mutual fund company Jupiter Asset Management is planning to sell as much as £220 million ($322 million) in stock through an initial public offering on the London Stock Exchange, the company said Tuesday.

Jupiter plans to issue 122.4 million new shares, with a price range at between 150 pence and 210 pence per share, which will value the company at about £718 million to £868 million.

The proceeds of the float will “serve to strengthen Jupiter’s balance sheet to a level the directors believe will...
To view the full article, register now.