Share sees 'encouraging' demand
Share plc, the parent company of independent stockbrokers The Share Centre, raised £1.08m on AIM this morning and said it has seen encouraging demand despite difficult market conditions.
The group raised the money through a public offer of 4m subscription shares at a price of 27p each, valuing the company at about £43.2m. The subscription has been nearly four times over-subscribed.
"We are delighted to be bringing Share plc to AIM after 17 years of trading since The Share Centre was established. Today the business remains true to its founding vision of more people enjoying straightforward investing," said chairman Martin Jacomb.
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"This commitment to personal investors is reflected in our decision to provide personal investors the opportunity to invest in Share plc through the offer for subscription, whose success represents a vote of confidence in the group from its customers," he added.
KBC Peel Hunt is acting as nominated adviser and broker to the company.
