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Mapeley plans £100 million private placement of stock
By Sheri Kasprzak
New York, Jan. 17 - Mapeley Ltd. said it intends to raise £100 million in a private placement of stock.
The pricing details of the offering have not yet been determined.
The private placement, which is being geared toward institutional investors, is expected to close on Jan. 25.
Deutsche Bank AG is the bookrunner for the offering and Lehman Brothers International (Europe) and Merrill Lynch International are agents. The agents have a greenshoe for up to 10% of the offering size.
Based in the company's closing stock price of £26.80 on Jan. 16 (LSE: MAY), the number of shares that would be issued in the deal represent 14.2% of the company's enlarged share capital.
London-based Mapeley is a real estate investment and outsourcing company.
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