The imminent return to the stock market of APR Energy, the temporary power company bought earlier this year by entrepreneur Hugh Osmond, will be announced today.
Mr Osmond revealed in June that Horizon, the shell company he set up to scout for investment opportunities, would buy APR for about $855m (£530m). APR's shares were suspended, but will be readmitted to the London Stock Exchange on 15 September.
APR will hold a series of analyst presentations in the run up to the relisting so that investors can place a value on the shares when they resume trading. Based on the company's recent performance, it could achieve a market capitalisation of £1bn or more.
The company is the world's second-largest temporary power supplier, behind Britain's Aggreko, and has grown rapidly. However, expansion was held back by a shortage of capital, which is why its management agreed to a reverse takeover by Horizon.
Horizon's owners will own 59 per cent of APR, alongside a number of significant minority shareholders.
They include George Soros's Quantum Strategic Partners and Albright Capital Management, the investment business of the former US Secretary of State Madeleine Albright. They will own 14 and 13 per cent of APR respectively. APR's management will own 12 per cent of the business, led by its founders, John Campion and Laurence Anderson. Mr Campion said the deal, which will swell the company's cash by about $275m, was crucial to his expansion plans. "In many regions across the globe, there is a substantial, structural shortage of electricity, which results in damaging power cuts and constrains economic growth," he said. APR is the latest in a series of business ventures by Mr Osmond which have spanned Pizza Express, Punch Taverns and Pearl Insurance.Reuse content