Share Plc | Stephens

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We provide investment banking, research, sales and trading, asset and wealth management, public finance, insurance, private capital, and family office services.

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Financial Adviser

Share Plc

£61.9 Million 02/17/2020 Financial Institutions Complete
Lead Banker: Hugh Elwes
Private Companies
Show Tombstone

Transaction Details

  • On 17 February 2020, the boards of Interactive Investor Limited (“ii”) and Share Plc (“Share”) announced that they had reached agreement on the terms of a recommended share and cash offer by ii for the entire issued and to be issued share capital of Share
  • The transaction valued Share at £61.9m, on a fully diluted basis, and represented a 41% premium to the closing price of 29.0p on 14 February 2020
  • The offer consists of 90% new ii shares and 10% cash, and the agreed valuation of ii was £675m
  • On 8 April 2020 the offer was approved by the shareholders of Share and is expected to close in Q3 2020 after regulatory approval
  • Following completion, Gavin Oldham, Chairman of Share, will join the Board of ii
  • Stephens is acting as sole financial adviser to Share

About the company

Share Plc

Share Plc was established in 1991 by the Chairman, Gavin Oldham, and is one of the UK’s leading independent retail stockbrokers providing execution-only stockbroking services to individual investors. Serves 300,000 customers with a total of £6.0 billion of assets under administration.

Interactive Investor Limited

Established in 1994, ii is the UK’s second largest direct to consumer investment platform with over £30.0 billion of assets under administration, 300,000 customers and more than one million users. The group is majority owned by J.C. Flowers, a US-based private investment firm, which currently has c.$5.4 billion of assets under management.

Source: Share Plc Offer Scheme Document
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