Business
Announcement of Placing Price
Announcement of Placing Price.
About this update from Ashmore Group Plc
[{"type":"text","content":"\n Ashmore Group PLC\n12 October 2006\n\n\n\nThese written materials are not for distribution (directly or indirectly) in or\nto the United States, Canada, Australia or Japan. They are not an offer of\nsecurities for sale in or into the United States, Canada, Australia or Japan.\n\n\n\nThe Shares of the Company are not being registered under the US Securities Act\nof 1933, as amended (the 'Securities Act') and may not be offered or sold in the\nUnited States unless registered under the Securities Act or pursuant to an\nexemption from such registration. No money, securities or other consideration\nis being solicited and, if sent in response to the information contained herein,\nwill not be accepted.\n\n\n\n12th October 2006\n\n\n\n Ashmore Group plc\n ('Ashmore' or the 'Company')\n\n\n Announcement of Placing Price\n of 170 pence per ordinary share\n\n\n\nAshmore, the specialist emerging markets asset management company, today\nannounces the successful pricing of its initial public offering of ordinary\nshares (the 'IPO').\n\n\n• The placing price has been set at 170 pence per ordinary share (the 'Placing\n Price').\n\n• Based upon the Placing Price, the market capitalisation of Ashmore at the\n commencement of conditional dealings will be approximately £1,205m.\n\n• The IPO consists of 177.3m Ashmore ordinary shares (prior to the utilisation\n of the over-allotment option), in total representing 25% of the 708.9m Ashmore\n ordinary shares in issue and implies an offer value of approximately £301m.\n\n• As stabilising manager, UBS Limited ('UBS') has been granted an\n over-allotment option of up to 17.7m ordinary shares, representing 10% of the\n ordinary shares in the IPO exercisable for a period of 30 days from today.\n\n• Conditional dealings are expected to commence on the London Stock Exchange\n at 8:00am today (12 October) under the ticker symbol ASHM. Admission to the\n Official List of the Financial Services Authority and commencement of\n unconditional dealings on the main market for listed securities of the London\n Stock Exchange plc (together, 'Admission') is expected to take place at 8:00am\n on 17 October 2006.\n\n• Directors, employees and their related interests will continue to hold\n approximately 75% of the Company's ordinary shares following the Placing \n (prior to the utilisation of the over-al...