Panmure Gordon & Co, a leading independent institutional stockbroker and investment bank, is pleased to advise that it has acted as joint Global Co-ordinator, joint book-runner and underwriter on the rights issue for RPC Group Plc (“RPC”) raising £232.6 million.
RPC, a leading plastic products design and engineering company for packaging and non-packaging markets, will use the proceeds to fund its acquisition of Global Closure Systems (“GCS Group”) for a consideration of €650 million (approximately £470 million).
The rights issue take up was approximately 97 per cent. and the balance of the shares was successfully placed in the market. The transaction has been extremely well received during a period of heightened volatility in financial markets.