Return of APR to be announced today
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.
- 1 President of Argentina adopts Jewish godson to 'stop him turning into a werewolf'
- 2 Doctors remove 80 teeth from boy's jaw
- 3 The 'Black Museum': After 150 years, public set to see exhibits from police’s grisly crime museum
- 5 Sir Winston Churchill’s family begged him not to convert to Islam, letter reveals
President of Argentina adopts Jewish godson to 'stop him turning into a werewolf'
The 'Black Museum': After 150 years, public set to see exhibits from police’s grisly crime museum
Downfall of Dustin 'Screech' Diamond, the 'Saved By The Bell' star charged with bar stabbing
Syrian teenager Usaid Barho reveals how he escaped from Isis using a suicide vest
Sir Winston Churchill’s family begged him not to convert to Islam, letter reveals
Millions of Britons struggling to feed themselves and facing malnourishment
British actor Idris Elba cannot star as James Bond because he is black, says shock jock Rush Limbaugh
Ukip member gets into Christmas spirit with Union Flag plea to Santa 'for our country back'
Germany anti-Islam protests: 17,000 march on Dresden against 'Islamification of the West'
Nigel Farage: Ukip leader named 'Briton of the year' by The Times
Immigrants make UK racist, says Ukip councillor Trevor Shonk
iJobs Money & Business
Not specified: Selby Jennings: VP/SVP Credit Quant Top tier investment bank i...
Not specified: Selby Jennings: Quantitative Research | Global Equity | New Yor...
Not specified: Selby Jennings: SVP Model Validation This top tiered investment...
Highly Competitive: Selby Jennings: Our client, a leading European Oil trading...