Britvic unveils flotation price range

0 Comments | AFP, November, 2005

LONDON (AFP) — Britvic announced a price range of between 210-250 pence (307-366 euro cents, 361-430 US cents) per share for the group's initial public offering (IPO).

The price range implied a market capitalisation for Britvic of between 451 and 537 million pounds and an enterprise value, which includes the group's debt, of between 771 and 857 million pounds.

Britain's second-biggest soft drinks company -- whose brands include J20, Tango and Robinsons -- added in a statement that it expected the price to be set and conditional trading to start on or around December 9.

The group had on November 14 confirmed that it intended to float on the London Stock Exchange by the end of 2005.

Britvic has said that its main shareholders InterContinental Hotels...