Sir Christopher said that the float would give ConvaTec the opportunity to capture ”significant value for a new generation of shareholders” Alan Weller for The TimesConvaTec, the medical devices manufacturer, has confirmed plans for a $1.8 billion (£1.39 billion) float before the end of the year. Sir Christopher Gent, the former chairman of GlaxoSmithKline and chief executive of Vodafone, has been lined up to chair the Reading-based group, with the initial public offering expected to take place during late October or early November”. The group is owned by Nordic Capital and Avista Capital Partners, the private equity firms, having been acquired for $4.1 billion eight years ago from Bristol-Myers Squibb, the pharmaceutical giant. ConvaTec employs about 9,000 people. In the year to December 31 it…

Source: The Times October 03, 2016 07:52 UTC