PrimaryBid supports Severn Trent on £1bn fundraise

Completed TransactionsOctober 2023


PrimaryBid was pleased to support FTSE 100 water company Severn Trent plc (LSE:SVT), on its recent fundraise.

Severn Trent raised approximately £1 billion through a placing to institutional investors, a subscription by Severn Trent directors, a subscription by the Qatar Investment Authority and a PrimaryBid retail offer which was on the same terms as institutions. This retail offer was also open to Severn Trent employees to participate in and marked the second time the company has used PrimaryBid to include retail investors in its fundraising.

PrimaryBid’s retail offer was allocated approximately £7 million in a deal that saw strong demand from retail investors in the space of a few hours. This demand was significantly in excess of the legacy EUR 8m cap currently set under the Prospectus rules.

Existing shareholders and new investors were able to participate through PrimaryBid's website, app and through its partner network of investment platforms, retail brokers and wealth managers.

The PrimaryBid retail offer was only available to investors in the UK.

Read more about the transaction here.