13 May 2016 | 03:17 pm |
International law firm Pinsent Masons has advised Motorpoint on its admission to the London Main Market in a deal which values the automotive business at £200m.
The Derby-based business announced the pricing of its initial public offering which comprised the offer of 50,000,000 shares at a price of 200p per share on 13 May.
Following completion of the Offer the Company is expecting to be eligible for inclusion in the FTSE UK Index Series.
Motorpoint is the largest independent vehicle retailer in the UK and employs over 600 staff through 10 outlets around the UK.
"The IPO market remains a little choppy so the success of this transaction is welcome for the markets, and furthers our credentials as specialists not just in main market transactions but in the automotive sector more generally."
Numis is co-ordinating the IPO, while Shore Capital is acting as a co-bookrunner. Rothschild acted as Motorpoint’s financial advisers.
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