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pounds 125m value put on Vero Group

Vero Group, a pounds 33m management buyout last year from cables group BICC, will be valued at around pounds 125m when it comes to the stock market this month. Today's prospectus is expected to show that six founder directors, led by managing director Brian Gay, will end up with a stake worth around pounds 16m and, along with 36 other senior management, are set to raise roughly pounds 3m in cash. Shares in the group, a maker of cabinets and racks for the electronics industry, are expected to be priced at between 200p and 225p, suggesting a prospective price/earnings ratio of 16.8 with underlying pre-tax profits forecast at pounds 11.1m for this year.

Investment Column, page 22