TI Fluid Systems slumped on Friday after BC Omega Holdco, which is controlled by investment funds advised by Bain Capital – the company’s largest shareholder – placed 52.4m shares via an accelerated bookbuild to institutional investors.
The shares were placed at 280p each, raising gross proceeds of £146.8m. The shares closed at 308p on Thursday.
Following completion of the placing, Bain Capital will hold a stake of around 44.4%, or just over 231m ordinary shares, down from 54.4%.
Goldman Sachs and Peel Hunt acted as lead bookrunners in connection with the placing.
At 0810 BST, the shares were down 5.7% at 290.50p.
