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HellermannTyton Down As Doughty Hanson Sells Remaining Stake

Thu, 20th Mar 2014 08:15

LONDON (Alliance News) - Cable tying and protection company HellermannTyton Group PLC saw its shares fall Thursday after Doughty Hanson sold its remaining stake in the business.

Doughty was joined by some members of the HellermannTyton management team in selling 46.9 million shares, or a 21.8% stake in the business, at GBP3.05 pence a share, raising gross proceeds of about GBP143.0 million.

Goldman Sachs and J.P. Morgan acted as joint bookrunners and Numis Securities acted as lead manager for the placing.

Doughty Hanson bought HellermannTyton from Spirent PLC in 2006 and it was listed on the London Stock Exchange in April 2013.

HellermannTyton Group shares were down 4.22% at 309.5 pence early Thursday.

By Steve McGrath; stevemcgrath@alliancenews.com; @SteveMcGrath1