Experian is going public
GUS, plc, the UK-based parent of Experian, one of the three main U.S. credit reporting companies, has announced plans for Experian’s IPO. In a news release entitled Demerger of ARG and Experian, by October 2006 Experian will be an independent company listed on the London Stock Exchange (and outside the grasp of U.S. regulators such as the SEC). More from GUS:
GUS plc, the retail and business services group, announces that it has commenced posting documents to its shareholders proposing the demerger and public listing of its two remaining businesses, Argos Retail Group (ARG) and Experian.
Subject, inter alia, to shareholder approval, the demerger will result in GUS shareholders receiving one share in each of ARG and Experian for every GUS share they hold. Immediately following the demerger, it is expected that Experian will issue further shares to raise new capital of approximately £800m.
The expected timetable to achieve this is as below:
Tuesday 29 August 2006 EGM to seek shareholder approval for the demerger
Thursday 14 September 2006 Approximate date of publication of ARG and Experian prospectuses
Friday 6 October 2006* Suspension of listing of, and dealings in, GUS shares at 4.30pm
Tuesday 10 October 2006 Demerger becomes effective
Wednesday 11 October 2006 Shares in ARG and Experian commence trading at 8am