Peel Hunt valued at £280m
Peel Hunt, the London-based broker, confirmed it has raised £112m ahead of its debut on the AIM market.
Of the money raised, £40m will be invested back into the business in order to aid its continued growth.
The rest will be kept by shareholders who are selling, seemingly to deal with tax related issues as a result of the corporate restructuring.
Peel Hunt‘s shares were placed with investors at 228p a piece, meaning the company’s total valuation is £280m.
Chief executive Steve Fine commented: “We have been delighted with the positive reception to our IPO, with strong support from institutional investors, as well as retail investors who were able to participate through intermediaries using our REX technology platform.”
“This is testament to the high-quality business we have built over the past decade, which puts us in prime position to take advantage of numerous opportunities ahead and continue our strong growth momentum.”
