Equity

In January 2018, we completed an initial public offering of 38,500,000 shares at $19.00 each. Shortly thereafter, the underwriters of the initial public offering exercised their over-allotment option for a further 5,775,000 shares, also at $19.00 each. Movements in the Company's number of shares in issue for the three month periods ended March 31, 2018 and April 1, 2017, respectively, were as follows:



(number of shares)	As of March 31, 2018	As of April 1, 2017
Balance as of the beginning of the period	245,474,605	245,627,952
Issuance of shares	44,275,000	80,107
Exercise of share options	6,774	—
Buy back of shares	—	(187,680	)
Balance as of the end of the period	289,756,379	245,520,379

The Company has one class of authorized and issued shares, with a par value of $0.01. Each share carries equal voting rights but no right to fixed income.