Senior fund managers to hold £140m stake as Jupiter sets IPO price range

Jupiter's six most senior fund managers are set to hold a stake worth £140m as the group set the price range of its IPO at 150p and 210p per share last week.

This values 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. Anthony Nutt, Philip Gibbs, Alex Darwall, John Chatfeild-Roberts, Ian McVeigh and CEO Edward Bonham Carter hold the largest individual stakes in the group, totalling more than 31% of the company. Initial share sales could r...