TP Icap sets terms on rights issue

By Sam Kerr
07 Jan 2021

TP Icap, the interdealer broker, has launched its £315m rights issue to partially fund the acquisition of Liquidnet.

HSBC is sole global co-ordinator on the fully underwritten deal. Bank of America, JP Morgan and Peel Hunt are bookrunners.

The company will sell 225.3m new shares at £1.40 a share, a 35.2% discount to the theoretical ex-rights price of £2.16 a share.

Shareholders will be ...

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