BC Omega Holdco sells 50m shares in TI Fluid Systems in placing
TI Fluid Systems
181.00p
15:45 15/11/24
-0.55%
-1.00p
Peel Hunt said on Wednesday that BC Omega Holdco sold 50m ordinary shares in TI Fluid Systems in a placing.
FTSE 250
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15:45 15/11/24
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FTSE 350
4,453.56
15:45 15/11/24
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FTSE All-Share
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15:45 15/11/24
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BC Omega Holdco is an entity indirectly controlled by investment funds advised by Bain Capital, LP or its affiliates.
The shares were sold by way of any accelerated bookbuild to institutional investors at 135p each, raising gross proceeds of around £67.5m. The price is a 20.2% discount to the closing share price on Tuesday.
Following completion of the placing, BC Omega will hold just over 141m shares in TI Fluid, which is a stake of around 27.5%.
Peel Hunt acted as sole global co-ordinator and bookrunner in connection with the placing.
At 0810 GMT, the shares were down 16% at 142p.