PRINT THIS PAGE UK Doughty Hanson prepares £1bn flotation of RHM30/06/2004. Source: AltAssets. 
 UK Doughty Hanson has started preparations for a possible initial public offering of Rank, Hovis, McDougal (RHM), the foods group behind the Hovis, Kipling and Bisto brands. The flotation is likely to take place some time in the second half of this year.
Doughty Hanson acquired RHM from Tomkins in 2000 for £1.14bn. The private equity firm was originally planning to float the company in late 2002 but scrapped this decision as a result of ongoing volatility in the equity markets.
Doughty Hanson's more recent forays into the new issue market have also not been very successful. The indicative price range on sports wear group Umbro was cut last month, and the listing of Auto-Teile-Unger (ATU), a German car parts group, was pulled on the back of low demand. ATU has since been acquired by Kohlberg Kravis Roberts.
Doughty Hanson is currently trying to raise a new E3bn fund.
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