Jupiter Asset Management aims to raise over £200m from IPO

19 May 2010

Jupiter Asset Management, a UK-based fund manager, has announced plans to raise more than £200 million by floating shares on the London Stock Exchange.

According to the firm, the initial public offering (IPO) will help it increase liquidity surrounding shares as well as the transparency of shareholdings.

The majority of proceeds made from the listing will be used to bolster its balance sheet for the benefit of both staff and shareholders.

Jamie Dundas, chairman of Jupiter, said: "The strength of Jupiter's investment culture has enabled us to attract and retain our talented team of fund managers and to deliver out-performance for clients through the market cycle.

“Floatation will further enhance our ability to achieve this objective for our growing client base and is the logical next phase in our evolution."

Edward Bonham Carter, chief executive officer at Jupiter, added that the company started 2010 in “great shape” and will be looking to build on this when the IPO is completed in June.

Figures from the firm showed that assets under management at the close of 2009 totalled £19.5 billion.

By Jim Ottewill

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