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3 December 2007
03/12/2007 Exchange welcomes Record plc to Main Market

3 December 2007

 

The London Stock Exchange is delighted to welcome Record plc to the Main Market.




Record is a specialist currency investment manager and provider of currency hedging services for institutional clients. Founded in 1983, Record has established a market leading position as a currency asset manager.


The IPO is a primary listing for Ordinary Shares on the Main Market and the offer was priced at 160 pence per Ordinary Share, giving Record plc a market capitalization of approximately £354 million.


The offer comprised 55,345,200 existing Ordinary Shares (excluding any exercise of the over-allotment option), which represents approximately 25 per cent. of the Company's issued share capital.


Commenting on the IPO, Neil Record, Chairman and Chief
Executive Officer, Record said: “We are delighted that we have successfully completed our IPO in this challenging market environment. We will continue to focus on building our business in managing currency for absolute return both in the UK and overseas and we look forward to updating our shareholders on our progress.”


The company’s advisers on the transaction were Capita Registrars – Registrars; Grant Thornton (auditors); Hogarth (PR/IR); JP Morgan Cazenove (sponsor & sole bookrunner); KPMG LLP (reporting accountants); MacFarlanes (legal); and Travers Smith (legal advisers to JP Morgan Cazenove).

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