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Liberum acts as Joint Bookrunner on a £68m ABB for Genus Plc

17 December 2018 | Bookrunner

Genus 

Liberum is pleased to announce that it acted as Joint Bookrunner in relation to a 5% placing of Genus Plc’s issued share capital, raising £68 million.

Genus, a FTSE 250 company, is a world-leading animal genetics company headquartered in the UK. The Company continuously develops higher quality pigs and cows for farmers, by selecting animals with desirable characteristics that help them to produce higher quality meat and milk more sustainably.

Net proceeds will be applied to reduce the Company’s net debt position (£108.5m at 30 June 2018), following a series of acquisitions and capex investments in recent years, and to provide balance sheet flexibility to continue to capture growth opportunities.

Management see continued opportunities to strengthen and grow the Genus business further through acquisition and business development transactions. Following the placing, the
net debt/EBITDA is expected to be in the
region of 1.0x. 

Liberum Team

Investment Banking – Clayton Bush, Josh Hughes, Trystan Cullen, Laura Hamilton
Sales –
David Parsons, Julian Collett
Research –
Sophie Jourdier
Corporate Access –
Lynsey Cox, Natalie Clarke 

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