Premier Asset Management has confirmed intentions to float on the stock exchange and will offer £64m of shares later this week.
An initial public offering (IPO) on the Alternative Investment Market (Aim) is scheduled for Friday (October 7) and will see 35,875,660 new shares and 12,381,916 existing shares being offered to investors.
According the firm's public notice, the deal should raise around £64m and values the multi-asset and income boutique at just shy of £140m.
Prior to listing, whose rumours began surfacing two weeks ago, Premier said it agreed £47.4m of share sales which will go to existing shareholders selling ordinary shares as part of the deal.
The current owners will retain 54.4 per cent as part of the listing. Elcot Capital, which owned 50 per cent of the firm, will reduce its stake to 33.2 per cent and Electra Partners holding 8.1 per cent.
The fund house was previously listed before being taken off the market by Electra. The the private equity firm then reduced its stake in 2014 to 25 per cent, selling 50 per cent to Elcot and Premier’s staff retaining 25 per cent.
