Dear client
We have been notified that Chesnara plc has announced it has entered into an agreement to acquire HSBC Life (UK) Limited, a specialist life protection and investment bond provider in the UK, from HSBC Bank plc, for a total consideration of £260 million (the “Acquisition”).
To part-fund the acquisition, the company is raising approximately £140 million through a rights issue of 79.5 million new shares, underwritten by RBC, ABN AMRO, and Panmure Liberum.
The rights issue will be on the basis of:
10 New Ordinary Shares for every 19 Existing Ordinary Shares
The issue is priced at 176 pence per share, representing a 40% discount to the closing price on 2 July 2025, with full payment due by 11 a.m. on 22 July 2025. The new shares will rank pari passu with existing shares, and admission to the London Stock Exchange is expected on 8 July 2025.
It is expected that, subject to the satisfaction of all relevant conditions, the Scheme currently expected to complete in or in early 2026
Please see link to the original notification details: https://www.londonstockexchange.com/news-article/CSN/acquisition-rights-issue/17116867
There are currently no holdings on the platform.
Should you have any questions then please click the “Contact Customer Services” button below or contact our helpline on 0845 783 5500, Monday to Friday 9am – 5pm
Kind regards
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