February 21, 2013, 3:25 PM Deustche-Managed Village Roadshow Bookbuild Starts at $4.18 Deal Journal Australia HOME PAGE »
By Gillian Tan
Deutsche Bank DBK.XE -3.02%is managing a bookbuild to sell 10.95 million shares in theme park owner and film producer Village Roadshow Ltd. VRL.AU -1.31%from A$4.18 each, a person familiar with the matter said Thursday.
” The shares include a 13 cent interim dividend, and the transaction represents a 7.5% discount to the stock’s last-traded price of A$4.52.
Village Roadshow entered a trading halt prior to announcing their first-half earnings Thursday, enabling the company to announce that major shareholder Village Roadshow Corporation and directors Robert Kirby and Graham Burke would sell up to 11 million shares through an accelerated bookbuild conducted by Deutsche Bank.
The sale is equivalent to 7% of Village Roadshow’s shares on issue. ”The sale is being undertaken to further increase the free float and liquidity of Village Roadshow,” the company said.
Village Roadshow owns theme parks in Australia and the United States as well as the film production and distribution business behind movies like Arnold Schwarzenegger‘s latest offering The Last Stand and Nicholas Sparks adaption Safe Haven.
