Yesterday the company confirmed that pounds 90m would be raised, valuing it at pounds 204.8m.
Of the 78.26 million shares offered, 58.7 million will be placed with institutional investors, and another 19.6 million will be placed subject to clawback for public and employee demand.
TLG said pounds 80m would go to the company, before expenses, with the money expected to reduce debts from pounds 93.2m to pounds 16m. The shareholders' funds-to-borrowings ratio will be under 24 per cent.
Following flotation, Investcorp will own 47.3 per cent of the company, and Thorn EMI will retain just under 7 per cent.
Some analysts said the float might have raised more, but for recent publicity surrounding flotation flops, such as Aerostructures Hamble, the aerospace components company.
Charlie Campbell, at Panmure Gordon, said: 'I think under other circumstances they could have got more for it. It is still very reasonably priced at this level.'
Mr Campbell added that TLG might benefit from the announcement that none of the directors or senior management would sell shares in the offer. 'They are not just taking the money and running,' he said. After the float management will hold 1.8 per cent of the ordinary shares, with options that could leave it with 7.1 per cent eventually.Reuse content