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(Sharecast News) - Pollen Street confirmed on Wednesday that it is considering a sale, having begun an assessment of the strategic options available to it "with a view to delivering greater value for shareholders".
Responding to press speculation, the asset manager said it has initiated preliminary discussions with a limited number of third parties to establish their suitability as a strategic partner and whether they might be interested in making a possible offer for the company.
"These discussions are at a very early stage and remain ongoing," it said. "As such, there can be no certainty that an offer will be made for the company, nor as to the terms on which any such offer might be made, nor that the company will pursue or participate in any other transaction as a result of the strategic review, nor as to the terms of any such transaction."
The statement came after Reuters reported that Pollen Street has recently explored options, including a possible sale, as it looks to gain scale in the asset management industry.
According to Reuters, citing two people familiar with the matter, potential buyers include mid-sized private equity firms as well as existing shareholder Wafra, `which bought a minority stake in the business in 2020 through its investment platform Capital Constellation.
At 1018 BST, the shares were up 16.6% at 950p.
See latest RNS on Investegate
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