John Talbot, joint administrator of Robert Maxwell Holdings, said yesterday that a formal bookbuilding process would begin on Monday, covering all the 219.7m shares owned by Maxwell Holdings, or 54.8% of the total.
Under the bookbuilding operation bidders have a week to submit bids either at specific prices or at the price which becomes the offer price. An international offering was deemed the best way to maximise the sum raised which could be more than £350m.
The sale could raise £50m-£70m for unsecured creditors including a contribution to the pension funds.
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