Financial Services Industry
Industry: Email Alert RSS FeedGUS reveals demerger plans.
Investors Chronicle, September, 2006
GUS has announced details of its demerger plans, and released prospectuses for the two new businesses: Argos Retail Group (now renamed Home Retail Group) and Experian. Experian plans to raise GBP800m via a new share issue. Around GBP600m of this will be set aside as a rights issue for existing shareholders, in proportion to their shareholdings.
The price of each share is yet to be decided, but GUS says that it will fall within the range of 475p to 610p. The remaining GBP200m, plus any shares from the GBP600m rights issue that are not taken up by existing shareholders, will be made available to new shareholders. The deadline for receipt by GUS for applications for the rights issue is 3pm on 5 October. GUS's shares will be suspended from trading after the markets...
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