finnCap Starts Trading On AIM With GBP47 Million Market Cap (ALLIPO)

LONDON (Alliance News) - finnCap Group PLC started trading on the AIM market of the London Stock ...

Alliance News 5 December, 2018 | 8:56AM
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LONDON (Alliance News) - finnCap Group PLC started trading on the AIM market of the London Stock Exchange on Wednesday after raising GBP5.0 million in total in its initial public offering.

The stockbroker raised GBP3.8 million of new money for the company, with selling shareholders receiving another GBP1.3 million.

After pricing its IPO at 28.00 pence per share, finnCap was admitted to trading with 168.2 million shares in issue and a market capitalisation of GBP47.1 million.

finnCap was trading up 5.4% at 29.50p per share early Wednesday morning.

In mid-November, finnCap announced its intention to float in London, as part of its agreement to acquire Cavendish Corporate Finance, an independent mergers & acquisition adviser to the UK mid-market. The GBP3.8 million raised in the IPO will partially fund the cash consideration for the acquisition.

By Elena Cherubini; elenacherubini@alliancenews.com

Copyright 2018 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar
Rating
FinnCap Group PLC Ordinary Shares 28.00 GBX -0.88 -
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