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LONDON - Cobalt Holdings plc has confirmed its plans to proceed with an initial public offering (IPO) and to list its ordinary shares on the London Stock Exchange (LON:LSEG)’s Main Market. This follows the company’s initial announcement on May 12, 2025, regarding its expected intention to float.
The offering is expected to take place on or around June 10, 2025, with Cobalt Holdings applying for admission of its shares to the Equity Shares (Commercial Companies) category of the Official List of the Financial Conduct Authority (FCA).
The Global Offer will include a primary offer of new Ordinary Shares issued by Cobalt Holdings. The company aims to target institutional investors outside of the United States under Regulation S and qualified institutional buyers within the United States under Rule 144A of the US Securities Act of 1933. Additionally, the offering will extend to retail investors in the United Kingdom (TADAWUL:4280) through the RetailBook network.
Two cornerstone investors have already committed to the IPO, with Glencore (OTC:GLNCY) set to invest $24.3 million for a post-IPO stake of approximately 10%, and Anchorage investing $23 million, equating to around a 9.5% stake after the company goes public.
Citigroup (NYSE:C) Global Markets Limited has been appointed as the Sole Sponsor, Sole Global Coordinator, and Joint Bookrunner, while Canaccord Genuity Limited will act as Joint Bookrunner if the Global Offer proceeds.
Further details about the Global Offer, including any changes to corporate governance arrangements, will be disclosed in the Prospectus, which will be made available on the company’s website if and when published.
This announcement, which is based on a press release statement, does not constitute an offer of securities for sale in any jurisdiction and should not be relied upon for any investment decision. The IPO’s completion and the publication of a prospectus are not guaranteed and are subject to market conditions and approvals from regulatory authorities.
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