CS goes alone on Aberdeen clean-up

03 Jul 2012

Credit Suisse sold its remaining 7% stake in Aberdeen Asset Management on Monday evening, mandating just its own syndicate to place the 80.4m shares after a pair of deals in February that also involved three other banks. It raised £205m from the deal.

CS conducted some limited pre-sounding on Monday afternoon before launching after the close. That allowed it to get the book quickly covered. Guidance of 245p-255p, a discount of 3.6%-7.4% served a similar purpose with the bottom quickly becoming irrelevant, said a banker familiar with the deal.

Pricing came after ...

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