Sanne, the Jersey-headquartered specialist global provider of corporate and fund administration, is to proceed 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 £140 milion 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 8am 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 £232 million on admission.
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 presence in established international financial centres both in Europe (Jersey, 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.