Dixon boosts IWG with £91.3m buy-in

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.   To send feedback, e-mail emma.rosser@egi.co.uk or tweet @EmmaARosser or @estatesgazette