STJ Advisors acted as independent advisor on the £128.4m IPO of Forterra plc, a leading UK producer of manufactured masonry products including the iconic "London Brick". The IPO was priced at 180p per share, giving the company a market capitalisation of £360 million.
STJ worked with the company to ensure that key decisions had the benefit of our extensive experience and data capture and our real time assessment, analysis and reporting so that fully informed choices could be made. These measures contributed to the generation of a high quality order book and the successful execution of the offering. The allocation to a highly supportive investor base was evidenced by the very low first day trading volume - equivalent to 16% of the deal size, one of the lowest first day turnovers on record for equivalent offerings.
STJ has maintained its 100% completion success rate during an extended period of market volatility, completing 5 IPOs and 6 follow-on offerings since the summer of 2015. During this time, the EMEA IPO non-completion rate has jumped to 47% of all attempts and during Q1 2016 there have been 12 European IPOs that failed to complete.