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Halfords IPO Raised GBP 266.7 million

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LONDON, UK (June 8) – CVC Capital Partners Ltd sold shares at 260 pence (€ 3.89) each, valuing the company at GBP 593 million (€ 886 mn). The IPO that took place end of May, is made up of a primary offer of 53.9 million ordinary shares and a secondary offer of 48.7 million ordinary […]

LONDON, UK (June 8) – CVC Capital Partners Ltd sold shares at 260 pence (€ 3.89) each, valuing the company at GBP 593 million (€ 886 mn). The IPO that took place end of May, is made up of a primary offer of 53.9 million ordinary shares and a secondary offer of 48.7 million ordinary shares.
CVC acquired Halfords in August 2002 for GBP 427 million (€ 638 mn) in August 2002. The GBP 267 million (€ 399 mn) initial public offering was for 45% of its share holding.
CVC has retained a 46% stake in the company, with management retaining 6%. Jonathan Feuer, a partner at CVC, said: “We are delighted the offer has been so well received by the market. The uptake is a reflection of Halfords’ growth prospects, market position and excellent management. We look forward to participating in the future success of the company as the largest shareholder.” (CR)

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