When the acquisition was first announced on 6 August 2013, IRESS chief executive Andrew Walsh said it would help his company to “establish scale, revenue and a relationship footprint in the UK”.
The £210 million cash purchase price was funded by a combination of internal cash resources, new debt and an underwritten pro-rata accelerated renounceable entitlement offer to raise $206 million.
The institutional component of the entitlement was completed August 9, raising $152 million; the retail component was completed on August 29, raising $53.5 million.
The retail component comprised two parts: an entitlement offer which raised $33.7 million, and a retail entitlement bookbuild completed on September 4 which raised $19.8 million at a bookbuild price of $8.70 per share.
