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Liberum acts as Joint Bookrunner and Sole Underwriter to Xafinity’s £70m raise

11 December 2017 | Bookrunner

XAF

Liberum is pleased to announce that it is acting as joint bookrunner and sole underwriter to Xafinity, in connection with the acquisition of Punter Southall’s actuarial, administration and investment consulting businesses and the associated £70 million Capital Raising.

An initial consideration of £143m will primarily be funded by the £70m firm placing and placing and open offer, £42m of consideration shares, a new banking facility and the transfer of Xafinity’s HR Trustees business to Punter Southall.

The transaction will:

  • Create the largest pure-play pension consultant in the UK
  • Be earnings enhancing in FY19 and materially enhancing thereafter
  • Provide Xafinity with potential opportunities to cross-sell its services into the enlarged client base

Investment Banking – Richard Crawley, Robert Morton, Cameron Duncan, Jonathan Wilkes-Green

Research – Rahim Karim

Sales – David Parsons, Julian Collett

Corporate Access – Lynsey Cox

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