Made Tech Group PLC - London-based provider of services that enable central government, healthcare and local government organisations to modernise technology - Is hoping for a market capitalisation of GBP180.66 million when it floats on September 30 on London's AIM market. Made Tech is aiming to generate GBP85.4 million in capital through the initial public offering. This will consist of GBP15.0 million of primary funds raised for the company and GBP70.40 million of secondary funds for existing shareholders.
The IPO will see 148 million shares issued at a price of 122 pence each.
Following the float, Chief Executive Rory MacDonald will reduce his shareholding in the company from 53% to 28%.
Singer Capital Markets Securities Ltd will act as nominated advisor for the float, while Joh Berenberg, Gossler & Co KG will also act as broker.
By Will Paige; willpaige@alliancenews.com
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