Sanne goes public

Tuesday 31 March 2015

Sanne, the Jersey-based provider of corporate and fund administration, is proceeding with an Initial Public Offering and placing of shares on the main market of the London Stock Exchange.

The offer is expected to raise more than £140m following strong interest from institutional investors across the UK. Admission to trade on the London Stock Exchange’s main market for listed securities is expected to take place at 8 am on 1 April 2015 under the ticker SNN.

The offer price has been set at 200p per offer share which equates to a market capitalisation of £232m on admission.

Dean Godwin, Sanne’s Chief Executive Officer said: "We believe that listing on the main market of the London Stock Exchange offers an excellent opportunity for Sanne to build upon an already strong operational platform to drive strategic growth. Furthermore, it recognises the quality of the business that has been built over the past decade.

"Most importantly, we believe that the listing is entirely consistent with our quality focused approach to client service and underlines our commitment to building a business for the long term for our staff and our clients."

Sanne’s clients include alternative asset managers, financial institutions, corporates and ultra high-net worth individuals. The group is based in established international financial centres both in Europe (Jersey, Guernsey, London, Luxembourg and Dublin) and across Asia (Hong Kong, Shanghai, Singapore) and the Middle East (Dubai).

Jersey Finance chief executive officer Geoff Cook said: “This is an innovative move that is focused on growth, investment and expansion and is a strong vote of confidence in both Sanne and Jersey, reflecting the optimism there is in Jersey as a highly respected finance centre for corporate, funds and private client work.”

The group will continue to focus on the expansion of their business through both organic and inorganic growth by concentrating on deepening their key client relationships, evolving their core asset-led offering and by building operational scale in their target markets.