SANNE announce listing on Main Market of the London Stock Exchange.
Sanne, the Jersey headquartered specialist global provider of corporate and fund administration, today announced that it is proceeding with an Initial Public Offering (‘IPO’) and placing of shares on the Main Market of the London Stock Exchange.
The Offer is expected to raise more than £140m following strong interest from institutional investors across the UK. Admission to trade on the London Stock Exchange’s main market for listed securities is expected to take place at 8.00am on 1 April 2015 under the ticker SNN.
The offer price has been set at 200 pence per Offer Share which equates to a market capitalisation of £232m on admission.
Dean Godwin, Sanne’s Chief Executive Officer said, ‘We believe that listing on the Main Market of the London Stock Exchange offers an excellent opportunity for Sanne to build upon an already strong operational platform to drive strategic growth. Furthermore, it recognises the quality of the business that has been built over the past decade.’
He added ‘Most importantly, we believe that the listing is entirely consistent with our quality focused approach to client service and underlines our commitment to building a business for the long term for our staff and our clients.’
Sanne’s clients include alternative asset managers, financial institutions, corporates and ultra high-net worth individuals. The Group has a multi-jurisdictional footprint with a strong presence in established international financial centres both in Europe (Jersey – Group headquarters, Guernsey, London, Luxembourg and Dublin) and across Asia (Hong Kong, Shanghai, Singapore) and the Middle East (Dubai).
The Group will continue to focus on the expansion of their business through both organic and inorganic growth by concentrating on deepening their key client relationships, evolving their core asset-led offering and by building operational scale in their target markets.
Dean Godwin said “We have everything in place, including a strong, experienced management team supported by an experienced board, to build a global business for the future.’