Monday April 28, 08:07 AM
Brevan Howard to proceed with global IPO of BH Global; seen raising $500 mln
LONDON (Thomson Financial) - Brevan Howard Asset Management LLP said it will go ahead with an initial public offering in BH Global Ltd. via a global placing of U.S. dollar, sterling and euro-denominated shares and a UK offer for subscription of sterling shares.
The company said the IPO of BH Global is expected to raise about $500 million.
Brevan Howard said it will seek admission to the London Stock Exchange (LSE: LSE.L - news) 's main market, and is considering an application for a listing of the company's U.S. dollar shares on the Dubai International Financial Exchange.
BH Global is a closed-ended investment company incorporated in Guernsey and managed by Brevan Howard Offshore Management Ltd, a member of the Brevan Howard group of affiliated entities.
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