London Stock Exchange welcomes Dowlais Group plc to the Main Market
The newly formed Dowlais Group plc today celebrates its Admission to the Premium Segment of the London Stock Exchange's Main Market.
The specialist engineering group is a world class business, with 30,000 employees working in 74 manufacturing sites across more than 20 countries and is well positioned to deliver attractive shareholder returns as a listed business.
The ordinary shares of Dowlais, which will trade under the stock ticker DWL.L, have been admitted to the premium listing segment of the London Stock Exchange’s main market. This follows the completion of the demerger of the GKN Automotive, GKN Powder Metallurgy and GKN Hydrogen businesses from Melrose Industries PLC into Dowlais.
N. M. Rothschild & Sons Limited, Citigroup Global Markets Limited and J.P. Morgan Securities plc acted as the joint financial advisers on this listing. Investec Bank plc acts as Dowlais’ Corporate Broker. Simpson Thacher & Bartlett LLP acted as legal advisers to Dowlais on its Admission.
Liam Butterworth, Chief Executive Officer of Dowlais, commented:
“We are delighted Dowlais has today joined the London Stock Exchange. I would like to extend my thanks to the team at Melrose for their unwavering support over the past five years, during which time we have completely transformed our group of businesses.
Dowlais brings together the market leading GKN Automotive and GKN Powder Metallurgy businesses and an exciting opportunity in GKN Hydrogen. We have a clear strategy to create value for our stakeholders by: delivering industry leading financial performance; facilitating the world’s transition to electric vehicles through a portfolio of cutting-edge products; and accelerating growth through a disciplined M&A strategy.
Dowlais looks forward to the opportunities that lie ahead as the UK's leading listed auto components business, well placed to play its part in transitioning society to a greener future."
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