LONDON, June 23 (Reuters) - UK motoring firm AA Group saidon Monday it had completed an initial public offering (IPO) toraise gross proceeds of 1.4 billion pounds ($2.4 billion).
The offering, priced at 250 pence per share, wasoversubscribed and its owners, private equity firms Permira, Charterhouse and CVC, have agreedto sell their entire 100 percent stake in the company, AA saidin a statement.
Best known for its roadside recovery services, AA receivedcommitments of over 930 million pounds from institutional"cornerstone" investors including Aviva, BlackRock Inc. and Legal & General, it said.
AA shares will start conditional trading on Monday.
($1 = 0.5876 British Pounds) (Reporting by Clare Hutchison; editing by Jason Neely)
Aviva (AV.)
Legal & General (LGEN)
