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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”.

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