Oct 17 (Reuters) - Biffa Plc
* Biffa, a leading uk waste management business, today announces successful pricing of its initial public offering of 118,001,417 shares at 180 pence per share.
* Offer price has been set at 180 pence per share equating to a market capitalisation of £450 million on admission.
* Global offer comprises an offer of 118,001,417 new shares representing 47.2% of biffa’s share capital on admission
* Net proceeds from global offer and subscription for subscription shares receivable by company will be used towards a payment of funds to hmrc with respect to ongoing legacy evp claims 1 and towards repayment of its current debt facilities
* Admission and commencement of unconditional dealings are expected to take place at 8.00am on 20 october 2016
* Assuming no exercise of over-allotment option, avenue capital credit will hold 15.5%, angelo gordon will hold 14.5% and bain capital credit will hold 9.1% of company’s issued share capital immediately following admission Source text for Eikon: Further company coverage: (Reporting By Sinead Cruise)