WELLCOME SHARE FLOAT "MANAGERS"

Following the recent announcement of its decision to float a further bank of shares in Wellcome plc, the Wellcome Trust has appointed lead managers to handle the international sale.

UK-based merchant bank Robert Fleming has already been named as global coordinator for the sell-off (and regional lead manager for territories not specifically allocated as follows), and Baring Bros is Wellcome's advisor. The regional syndicates are: Cazenove for the UK; Morgan Stanley, Lehman Bros and Merrill Lynch for the USA; and Nikko Securities and Nomura for Japan. Elsewhere, Swiss Bank Corp takes over responsibility for Switzerland, Credit Lyonnais and Banque Indosuez for France, Dresdner Bank and Deutsche Bank for Germany and Jardine Fleming for the Pacific Rim.

The sale is reportedly scheduled for July, but it is still dependent on market conditions. At the current L 10.49 per share (at time of riting), the Wellcome sale is, nevertheless, expected to be prestigious.