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Sacoven
- BY: Andrew Hore |
- POSTED: 08/05/2012 |
Sacoven is the latest shell to announce its flotation on Aim.
Jersey-registered Sacoven plans to raise £3m at £1 a share. That will value Sacoven at £6m and dilute major shareholder Brunswood International Holdings’ stake to 50%.
The company’s investment adviser Vasari Global will seek a suitable acquisition. The focus is on natural resources or consumer goods sectors in Europe and emerging markets. The target will ideally have an enterprise value of between £200m and £500m. If an acquisition is not made within 18 months then shareholders will be asked for approval for a further 12 months to find a purchase.
The flotation is due before the end of May.
Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFApril2012_31.pdf
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