Beverages and snack food company C&C Group has announced its intention to seek a listing for its shares on the Irish Stock Exchange and London Stock Exchange by way of an initial public offering (IPO).
Subject to market conditions, the IPO is intended to take place in the summer of 2002, comprising of both an institutional offer and a public offer. The institutional offer will be to institutional investors in Ireland, the UK and internationally. The public offer will include an offer to retail investors and intermediaries in Ireland, and to intermediaries in the UK.
There will also be an offer to qualifying employees of C&C Group and there will be special arrangements for trade customers of C&C Group. Goldman Sachs International and Schroder Salomon Smith Barney are acting as Joint Global Co-ordinators and Bookrunners and IBI Corporate Finance and Davy Stockbrokers are acting as Joint Lead Managers of the IPO.
Executive chairman Tony O’Brien said: “The IPO of C&C Group marks an exciting next stage in the group’s development and gives us the opportunity to build further on the group’s success story to date.
“The favourable dynamics of the Irish market, our comprehensive distribution network and the fact that many of our brands are market leaders in growing product segments give me great confidence in our future as a public company.”