Clive Cowdery will float Resolution Limited with £660m backing from investors, it has been confirmed.
It says 660 million ordinary shares have been allocated at £1 per share, although 60 million represent an over-allotment option granted to Citi which may not be fully exercised. The Resolution team, including former FSA chief John Tiner, is investing £20m in the company as part of the placing, which it says represents about 3% of ordinary shares. Entrepreneur Cowdery offloaded his original Resolution company to the Pearl Group for £4.98bn earlier this year. He is set to swoop on troubled private and listed companies in the UK and across Europe. "We are very pleased with the support sh...
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