LONDON (Alliance News) - Cooperatief H2 Equity Partners Fund IV Holding WA will sell 15.0 million shares in window, door and roofline PVC products company Eurocell PLC, according to a statement made on Tuesday by bookrunner Peel Hunt LLP.
Peel Hunt, which is working on the deal alongside Canaccord Genuity, said the placing will be conducted via an accelerated bookbuild, with the final price to be agreed at the close of this process but to be a minimum of 200 pence per share. Eurocell floated in London at 175.0 pence per share in March.
Following the sale, H2's stake in Eurocell is set to fall to 22.1%. Its remaining shares are subject to a lock-in agreement which will expire at the end of 2015.
Shares in Eurocell were untraded Tuesday, having last traded at 200.25 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Eurocell (ECEL)