Amtel-Vredestein Valued at $742 million after London IPO
Amtel-Vredestein’s London IPO has raised $201 million from the sale of 27.1 per cent of its shares, valuing the company at $742 million in total. The total value is less than the $1 billion the company had hoped for, although insiders are said to be pleased with the result.
Amtel-Vredestein lowered the price of its initial public offering after some investors shied away from the initial price range. News sources had also reported that the placement looked expensive compared to the $70 million the company got for selling a 12.4 per cent stake to Russia’s Alfa Group and Temasek Holdings, Singapore’s state-owned investment company, in July.