Institutional investors take up bulk of Regus open offer (UK)

Regus Group plc said institutional investors have taken up the bulk of its open offer, as announced on 16 July. The group´s placing and open offer was for up to 196,958,408 new ordinary shares at 62.25 pence each on the basis of one new ordinary share for every four held.

Of these new shares, 90,332,321, representing 45.9 pct of the total issue, over which Maxon Investments irrevocably undertook to waive its entitlement, were placed firm with institutional investors.

Of the remaining 106,625,571 new shares available for take-up under the open offer and conditionally placed with institutional investors by Dresdner Kleinwort Wasserstein and KBC Peel Hunt, valid applications had been received by the close of the open offer at 11.00 am today for 2,004,654 new ordinary shares. This represents approximately 1.0 pct.

The 104,620,917 new shares not applied for, representing 53.1 pct of the total issue, have been placed with institutional investors at 62.25 pence each.
Source: Freeman

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