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Franklin raises $550m bid cash via London float
Evening Standard
|May 17, 2023
SERIAL dealmaker Sir Martin Franklin today raised a $550 million (£442 million) takeover war chest through a share listing on the London stock market
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The London-born but Miami-based tycoon floated his Special Purpose Acquisition Company (SPAC) Admiral Acquisition Corp in a rare London IPO.
Sir Martin (below), nephew of DNA pioneer Rosalind Franklin, has a long history as a corporate acquirer and was once Wall Street's youngest CEO.
The company sold $550 million worth of shares at $10 each. With no operations of its own, it will use these funds plus debt it can raise to buy a firm, allowing the acquired business to list in London.
Denne historien er fra May 17, 2023-utgaven av Evening Standard.
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