IWG chief executive Mark Dixon has agreed to buy £91.3m of shares in the flexible workspace provider’s latest fundraise.
Dixon’s subscription of 38,205,384 shares equates to 28.53% of the shares offered in the placing and retail offer.
He made the acquisition through his company Estorn. Toscafund has also agreed to buy £59.4m of shares.
The company announced a retail offer to raise £320m from shareholders yesterday (27 May), after markets closed.
The offer of 133,891,213 shares at 239p represented an 8.1% discount to the middle market closing price.
The cash generated is expected to be used to buy up rivals hit by the effects of coronavirus, including M&A opportunities.
Investec, Barcalys and HSBC are joint global co-ordinators and joint bookrunners on the placing.
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