Luceco, a manufacturer and distributor of high quality and innovative LED lighting products and wiring accessories, has announced the successful pricing of its initial public offering of 71,629,400 shares at 130p apiece giving it a market capitalisation of approximately £209.0 million.
The offer is expected to raise gross proceeds of £26.0 million for the company. Luceco will admit its entire issued share capital of 160,800,000 ordinary shares to trading on the London Stock Exchange's main market.
On admission, EPIC Investments LLP will hold 24.3% of the company's issued share capital, chairman Giles Brand will hold 5.5%, chief executive John Hornby will hold 20.8%1 and other members of Luceco's management team will hold 4.9%. The offer comprises 71,629,400 Shares, representing approximately 44.5% of the company's issued share capital on Admission.