Dequity Capital Management is heading to the equities market inviting investors to take part in its initial public offering (IPO) which opens on November 27.
The private equity holding company, which targets growth-oriented small and medium-sized enterprises, is seeking to raise just over $657 million with shares priced at $1 each.
Some Two hundred and sixty-three million units are reserved for strategic investors while three hundred and ninety-four point five million will be available to the general public.
The offer has a minimum raise of $500 million.
Dequity Capital, managed by Dequity Capital Fund Managers, holds a diversified portfolio spanning financial services, health care, real estate, digital, print and media and insurance brokerage.
Proceeds from the offer will be used in part to retire existing debt, strengthening the company's balance sheet and boosting financial flexibility. The additional capital will also be deployed into new investment opportunities that align with Dequity's strategic focus.
The IPO closes on December 18.
VM Wealth Management is the lead broker and arranger.
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