Blue-chip firms to score Arena stake
Arena Group, a marquees and seating business headed by Irishman Greg Lawless, has teed up blue-chip investors for its listing on AIM in London next week.
Miton Asset Management, whose funds are managed by small-cap specialist Gervais Williams, will be the biggest shareholder in Arena after the July 25 IPO, with a 12.7% stake.
Swiss private bank Lombard Odier will own 10.1%, Blackrock will have 8.1%, and Ennismore Fund Management and Hargreave Hale will each own more than 7%.
Arena provides tents, seating and facilities for big events such as Wimbledon and the Ryder Cup, featuring Rory McIlroy. Private equity group MML is selling its 51.3% stake in the company in the float, which will raise £60m (€57m). Arena said it would use the proceeds to pay debt and “pursue international growth”.