London Stock Exchange welcomes ConvaTec Group – largest UK IPO of 2016
- ConvaTec raises £1.465 billion – largest European healthcare IPO for more than 20 years
- Float is among the top 10 largest global healthcare IPOs of all time
London Stock Exchange today welcomes ConvaTec Group Plc, the UK headquartered, global medical products and technologies company to open trading following its successful IPO which capitalised the business at £4.39 billion. The company, which raised £1.46 billion, is the largest European healthcare company to float in London since 1993 and is the 9th largest global healthcare IPO of all time.
Nikhil Rathi, CEO, London Stock Exchange plc said:
“This landmark IPO demonstrates the enduring capacity of our capital markets to fund and support the growth and global ambitions of the UK’s leading manufacturers. Today is a further, powerful demonstration of the appeal of London’s unrivalled pool of international institutional investment capital.”
Paul Moraveic, CEO of ConvaTec Group Plc said:
“We are delighted to have successfully completed ConvaTec’s IPO in London. ConvaTec is a world leader in large, structurally growing markets for the management of chronic health conditions, and we have significant R&D and manufacturing operations in the UK. We are extremely pleased to welcome as shareholders high quality investors from the UK and internationally, and we look forward to life as a public company.”
For further information:
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Notes to editors:
About London Stock Exchange Group:
London Stock Exchange Group (LSE.L) is an international markets infrastructure business. Its diversified global business focuses on capital formation, intellectual property and risk and balance sheet management. LSEG operates an open access model, offering choice and partnership to customers across all of its businesses. The Group can trace its history back to 1698.
The Group operates a broad range of international equity, ETF, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS (Europe's leading fixed income market); and Turquoise (a pan-European equities MTF). Through its platforms, LSEG offers market participants, including retail investors, institutions and SMEs unrivalled access to Europe’s capital markets. The Group also plays a vital economic and social role, enabling companies to access funds for growth and development.
Through FTSE Russell, the Group is a global leader in financial indexing, benchmarking and analytic services with approximately $10 trillion benchmarked to its indexes. The Group also provides customers with an extensive range of real time and reference data products, including SEDOL, UnaVista, XTF and RNS.
Post trade and risk management services are a significant part of the Group’s business operations. In addition to majority ownership of LCH, a multi-asset global CCP operator, LSEG owns CC&G, the Italian clearing house; Monte Titoli, a leading European custody and settlement business; and globeSettle, the Group’s CSD based in Luxembourg.
LSEG is a leading developer and operator of high performance technology solutions, including trading, market surveillance and post trade systems for over 40 organisations and exchanges, including the Group’s own markets. Additional services include network connectivity, hosting and quality assurance testing. MillenniumIT, GATElab and Exactpro are among the Group’s technology companies.
Headquartered in the United Kingdom, with significant operations in North America, Italy, France and Sri Lanka, the Group employs approximately 3,500 people.
Further information on London Stock Exchange Group can be found at www.lseg.com