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Hugh Osmond looks to a new Horizon
HUGH Osmond is considering the creation of another shell company following the early success of Horizon, the listed vehicle he has used to buy the power business APR Energy.
Yesterday shares in the newly-listed APR Energy started trading on the stock market following Horizon’s acquisition of APR Energy earlier in the year. Horizon initially raised more than £400m through issuing shares on the stock market before the APR deal had been identified.
Yesterday APR shares closed 16 per cent higher than their launch price after the first day’s trading, following a positive set of meetings on the company’s roadshow, valuing the group at more than £1bn. Numis has been acting as sole adviser to APR on the re-listing.