News

IPO values Hansen at £1.14bn

06 December 2007 13:16:00

Hansen Transmissions has priced its IPO at 175p per share, valuing the wind turbine gearbox manufacturer at about £1.14bn.

The group, whci began conditional trading in London today, said it will raise around £289.2m from the listing on London's main market.

Net proceeds will be used to fund the expansion of its manufacturing capacity through the construction of new integrated manufacturing facilities in India and China

"There has been a great deal of interest from investors in Hansen which has led to a very successful IPO and the important milestone for Hansen of a London Stock Exchange listing," said chief executive Ivan Brems.

"The IPO will help us to achieve our objectives of building upon our strong market position in the wind industry, in particular in the large-scale multi-MW wind turbine sector, and to expand our manufacturing capacity to meet increasing global demand from our customer base," he added.

Goldman Sachs and Merrill Lynch are joint sponsors, global co-ordinators, bookrunners and lead managers for the offering and KBC Securities is co-manager.

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