LONDON (Alliance News) - The London Main Market welcomed private equity fund Apax Global Alpha Ltd, Irish homebuilder Cairn Homes and Germany-focused real estate fund Phoenix Spree Deutschland Ltd to trading on Monday.
Chaired by Tim Breedon, the former boss of Legal & General Group PLC, Apax Global Alpha is trading at 123.425 pence, ahead of the 119.2p offer price as the fund raised GBP218.2 million. It was valued at GBP585.4 million by market capitalisation on admission.
Cairn Homes shares were trading at EUR1.0575, slightly ahead of the EUR1 offer price, with the homebuilder raising EUR384.9 million. It had a market capitalisation of EUR429.7 million on admission.
Phoenix Spree Deutschland, which has a portfolio of 114 properties, also listed on London's main market. The 69.9 million shares listed are at 148.05 pence. The Berlin-focused residential property company did not raise new funds and came to market through an introduction.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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Apax Global Alpha (APAX)
Cairn Homes (CRN)
Phoenix Spree D (PSDL)