Britvic, the UK soft drinks company, will have a market value of up to £537m ($924m) when it floats on the London Stock Exchange later this year.

The company, which produces Robinsons and Tango, on Friday set the price range for its IPO, announced earlier this month, at 210p to 250p. This implies a market capitalisation range from £451m to £537m. The company has £320m in net debt.

The three largest shareholders in Britvic - InterContinental, Whitbread and Pernod Ricard - will sell 153 million ordinary shares, around 71 per cent of the total share capital. Of that, InterContinental will offer 77 million shares, representing 75 per cent of its interest in the company.

InterContinental currently owns 47.5 per cent of Britvic, while Whitbread and Pernod Ricard have 23.75 per cent stakes.

Citigroup and Deutsche Bank, the joint bookrunners for the offer, have also agreed up to 15 per cent, or 22.9m, additional shares, will be offer in the case of high public demand.

Whitbread has said that it too expects to sell 75 per cent of its interest in Britvic, garnering between £80.3m and £95.6m, excluding the greenshoe option. Whitbread will also receive a special dividend of £23.4m.

But Pepsi, which invested in Britvic in 1987, has said it will retain its 5 per cent stake. Britvic distributes Pepsi and 7UP in the UK and will next year take on Gatorade, the fast-growing sports drink. Britvic also has first refusal on any new carbonated drinks developed by Pepsi.

Britvic expects to announce the final offer price, and final detail of the number of shares to be sold, on or around December 9.

It had previously targeted a public offering between 2005 and 2008 but decided to take advantage of the buoyant market for floatations in the UK this year.

Floatations on the LSE have already topped £9bn this year, more than any year since the 2000 boom, lead by UK online poker company PartyGaming that debuted in June valued at £5.16bn.

An influx of foreign companies has also boosted the market. Russian and former CIS companies have lead the charge, coming to the LSE in search of an improved international profile and exposure to institutional investors who face restrictions accessing rouble IPOs in Russia.

KazakhGold, the parent company of gold miner Kazakhaltyn, on Friday set the offer price for its global depositary receipts at $15, the top end of the $12 to $15 range. The company expects to raise $176m when it floats on December 1 with a market value of $707m.

It will be the second Kazakh company to have its primary listing on London’s main market. UK-incorporated Kazakhmys, Kazakhstan’s largest copper miner, is likely to join the FTSE 100 next month having raised £661m on its debut in October.

With almost £700m in annual sales, Britvic is Britain’s second-largest soft-drinks maker behind Coca-Cola, which bought Schweppes in the UK from Cadbury-Schweppes in 1999. Cadbury this week sold the European arm of its beverages business to buy-out groups Blackstone and Lion Capital for €1.85bn.

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