London-based private equity firm Bridgepoint shares surged by 29% on their debut on London Stock Exchange last Wednesday.
Bridgepoint raised £300m ($414.84m) in the initial public offering. By the closing day, the shares went from 350p to 452p, providing a valuation of £3.7bn ($5bn USD). Existing investors sold approximately £489m ($676m) worth of shares.
Bridgepoint says: “The money raised will be used to reduce debt and fund investment.”
The price per tag of 350 ($4.82) pence per share provided the group with an initial market capitalization of 2.88 billion pounds ($3.92 billion).
This private equity firm has approximately €27.4 billion ($37,8bn) of assets. It has stakes in UK’s burger king, the fast-food chain Itsu, and the sportswear firm called Wiggle....