October 5, 2017 / 6:50 AM / in a year

Acquisition vehicle J2 raises $1.25 bln in London listing

LONDON, Oct 5 (Reuters) - British Virgin Islands firm J2 Acquisition has raised $1.25 billion from an initial public offering in London, the firm said on Thursday.

The IPO will enable the firm to make an acquisition, it said in a statement, without saying what it would be.

“There is no specific expected target value for the acquisition,” it said, adding that any funds not used for the current acquisition could be used for future deals instead.

The offering consists of $1.21 billion in ordinary shares at $10 a share and a further $40 million through founder preferred shares, J2 said.

J2 expects to start trading on the London Stock Exchange on Oct 10, it added. (Reporting by Carolyn Cohn; Editing by Rachel Armstrong)

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