Goldman’s Petershill Exits London Stock Exchange in $4.5B Deal
Goldman Sachs’ Petershill is planning to delist from the London Stock Exchange. In this article, we provide details about the matter.
Goldman’s Petershill Exits London Stock Exchange in $4.5B Deal
Table of Contents Petershill Partners PLC, an investment firm operated by Goldman Sachs Asset Management, has announced that it intends to delist its shares from the London Stock Exchange (LSE) and return capital to investors as part of its proposal. The company listed in London four years ago but is now set to delist from the LSE, citing persistent under-valuation and weak investor demand. The company is proposing that it'll return about $ 921 million (equating to $4.15) of capital to its free-float shareholders through a combination of cash and other funding mechanisms. This Petershill Partners PLC decision to delist from the LSE is the latest blow to the UK’s ailing capital markets and investment trust industry. The proposal values the company at about $4.5 billion—a 35% premium to Wednesday’s closing price—yet it has lost more than a third of its value since its debut. Petershill noted that its market valuation has suffered due to factors such as a limited free float and low trad…
