ConvaTec Investors Rake In $1.2 Billion Via Stake Sale
Private equity groups Nordic Capital and Avista raised gross proceeds of 975 million pounds ($1.21 billion) through the sale of an about 19 percent stake in British medical technology giant ConvaTec Group Plc, one of the joint bookrunner for the placing said.
The investors had sold 375 million shares at 260 pence per share, after the size of the placing was increased from 300 million shares due to strong investor demand, bookrunner UBS Ltd said in a statement on Wednesday.
Separately, the investors also sold 389 million shares, or a 19.95 percent stake, to Novo A/S, the parent company behind the world's largest insulin maker Novo Nordisk, for about 1.012 billion pounds.
The investors had sold 375 million shares at 260 pence per share, after the size of the placing was increased from 300 million shares due to strong investor demand, bookrunner UBS Ltd said in a statement on Wednesday.
Separately, the investors also sold 389 million shares, or a 19.95 percent stake, to Novo A/S, the parent company behind the world's largest insulin maker Novo Nordisk, for about 1.012 billion pounds.