Business Services Industry
Britain's Troubled EMI to Launch IPO for Retailing Arm HMV Media.
Knight Ridder/Tribune Business News, April, 2002
Daily Mail, London Knight Ridder/Tribune Business News
Apr. 26--Spring has arrived for small investors who like to play the new issue market. They will have an opportunity over the next fortnight when HMV Media, the music, video and book retailing arm of troubled EMI, floats with a UKpound 525 million offer of shares priced in a range of 190 pence to 220 pence. One- tenth of the total should be available to the public in an "intermediaries offer," which closes on May 8. The share price will be fixed the next day and dealings will start between then and May 15.
The offer values HMV at UKpound 850 million-odd. It is the biggest UK float for months and is treating small investors better than Hugh Osmond's Punch Taverns, which has spurned the retail...
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