Jupiter valued at up to £868m after unveiling IPO terms

Jupiter has set the price range of its IPO at between 150p and 210p per share, valuing the asset manager at £718m to £868m.

The global offer will comprise of 122.4 million new shares and the sale of between 11.9 million and 58.8 million shares by certain selling shareholders. Assuming a 180p per share mid-point, the new shares will raise gross proceeds of approximately £220m and shareholder sales will raise between £21.5m and £105.9m. In addition, 12.2 million shares may be offloaded by the selling shareholders pursuant to the over-allotment option. Jupiter management and staff will receive between £43.5m and £79.2m, assuming the mid-point price and the over-allotment. TA Associates and Alpinvest Par...