Legoland owner leaps 9% on stock market debut
Saturday 09 November 2013
Merlin Entertainments, the group behind London Eye and Madame Tussauds, raised £957m yesterday as it listed on the London Stock Exchange, with its shares leaping 9 per cent on its debut.
The Legoland and Warwick Castle operator’s shares rushed up 32p to 347p as it sold a 30 per cent stake priced at 315p, offering retail investors discounts on tickets to its attractions.
The chief executive Nick Varney, who sold shares worth £10m in the float, said: “We are delighted with the strong response from both institutions and retail shareholders to our offer.
“We have long stated our belief that becoming a public company was Merlin’s ultimate destiny, providing the right long-term ownership to enable the next stage of development.”
Its private-equity backers Blackstone and CVC hold 22.6 and 13.1 per cent stakes in the company while the Legoland family trusts own 29.9 per cent. The share offer was nine times oversubscribed.
Institutions have been allotted 87.5 per cent of the shares sale while retail investors, who had to buy a minimum of £1000 worth of shares to get discounts on entry tickets, ended up with 12.5 per cent of the 304 million shares on offer. After paying off the investors selling their stakes, the float raised £165m for reducing debt.
- 2 Joan Rivers: 'Palestinians deserve to be dead'
- 3 Daily Show's Jon Stewart destroys Fox News for its Ferguson coverage
- 4 ALS ice bucket challenge co-founder Corey Griffin drowns, aged 27
- 5 Botched ice bucket challenge leaves man critically injured after plane drops hundreds of gallons of water
Notting Hill Carnival: Woman shares selfie after being ‘punched in face for telling man to stop groping her’
YouTube video posted by Isis militants shows 'execution of 250 Syrian soldiers'
Joan Rivers: 'Palestinians deserve to be dead'
Daily Show's Jon Stewart destroys Fox News for its Ferguson coverage
Botched ice bucket challenge leaves man critically injured after plane drops hundreds of gallons of water
Exclusive: We share blame for creating 'jihad generation', says Muslim strategist
Robin Williams Emmys tribute led by Billy Crystal criticised for including 'racist' joke about Muslim woman
The Rotherham child abuse scandal is a tale of apologists, misogyny and double standards
Scottish independence TV debate: Pumped-up Alex Salmond bounces back in bruising second round against Alistair Darling
Do you realise just how foolish the UK looks?
Ukip Douglas Carswell defection: Tory MP jumps ship to join Nigel Farage
- < Previous
- Next >
iJobs Money & Business
£20000 - £30000 per annum + OTE £40-50K first year: SThree: The SThree group i...
£300 - £350 per day + competitive: Orgtel: Cost Reporting Manager - MI Packs -...
£85000 - £100000 per annum: Ashdown Group: Head of Marketing - Slough, Berkshi...
£35000 - £55000 per annum: Harrington Starr: A Global global asset management ...